Insurance merger authorised
Tuesday 10 April 2012
The European Commission authorised, on 4 April, the proposed acquisition of joint control over the Polish insurance company Towarzystwo Ubezpieczen i Reasekuracji Warta S.A (Warta) by International AG of Germany and Meiji Yasuda Life Insurance of Japan, both insurance companies. The EU executive’s investigation into the parties’ overlaps in the markets for life and non-life insurance products showed that they would have only a moderate combined market presence, that the addition in market shares resulting from the transaction would be negligible and that there would remain sufficient and strong competitors on the markets concerned. The Commission concluded that the operation would not significantly impede effective competition in the European Economic Area or any substantial part of it.