LONDON, November 5, 2026 – Proskauer advised GamaLife in connection with the proposed acquisition of the company from Apax Partners by BPCE Assurances, the insurance arm of Groupe BPCE.
GamaLife is a life insurer operating in Portugal and Italy, focused on life savings, retirement and personal protection products. In 2025, it generated €475 million in gross premiums and managed €7.5 billion in assets, serving nearly 500,000 customers.
BPCE Assurances has signed a memorandum of understanding with funds advised by Apax Partners and entered into exclusive negotiations to acquire 100% of GamaLife’s share capital. The proposed transaction would support Groupe BPCE’s plans to develop its bancassurance model in Portugal, building on its acquisition of novobanco.
The transaction is expected to close in the first half of 2027. Completion remains subject to consultation with the relevant employee representative bodies and the required regulatory approvals, including merger control clearance and approval from the competent Portuguese insurance supervisory authority.
The Proskauer team was led by partners Rebecca Villarreal and Steven Davis and associate Elliott Dagul (Private Equity M&A). The team also included partner Daniella Abel and associate Luis de Freitas (Tax), and special regulatory counsel Edward Lister (Regulatory).
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