|
|
The Commission's investigation confirmed that the notified operation would not raise competition concerns because it would not significantly alter the market structure.
The Commission, in particular, examined the competitive effects of the proposed acquisition on the production, underwriting and distribution of non-life insurance and assistance services in France, which is the only country in the European Economic Area where the two companies' activities overlap.
Given the small market share increase resulting from the transaction, the relatively low combined market shares of the parties, and the presence of a number of credible competitors, the Commission concluded that "the transaction would not raise competition concerns".
This follows the news last week that The Helvetia Group is to take over the French transport insurance portfolio of Gan Eurocourtage, a subsidiary of Groupama SA.