View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 19, 2021

Former Allianz executive plans new blank-check firm for insurance deals

Former Allianz CFO Dieter Wemmer is reportedly unveiling a special purpose acquisition company (SPAC) to target deals in the insurance space.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The aim is to raise nearly $300 million (€250m) on the Amsterdam stock exchange in May, reported Bloomberg citing people familiar with the issue.

In this endeavour, Wemmer will collaborate with insurance-focused investment firm Nazare Capital co-owners Murray Wood and Santiago Corral.

The executives have already started talks with potential investors on the matter and are eyeing targets among technology players in the sector, the report further stated.

The blank-check firm will be reportedly led by Wemmer as the executive chairman and Wood as its CEO.

Bank of America is advising on the blank-check firm, the report added. The news was not officially confirmed by Wemmer, Bank of America, or Nazare.

Before working at Allianz, Wemmer was the CFO at Zurich Insurance Group.

He has board positions at Swiss investment bank UBS and Danish renewables firm Orsted.

As per data gathered by Bloomberg, over 300 SPACs worldwide have completed IPOs this year to collectively raise $101.7bn.

Last month, Hippo Enterprises said that it will go public through a $5bn merger with SPAC Reinvent Technology Partners Z, a special purpose acquisition company.

The merged entity is expected to have around $1.2bn in cash at closing, including up to around $230m of cash held in Reinvent’s trust account from its IPO on 23 November 2020.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive.
SUBSCRIBED