A PYMNTS Company

EU: Commission clears the acquisition of sole control of AmTrust by Centerbridge

By  |  August 14, 2019

The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of AmTrust Corporate Member Limited and certain other business assets (“AmTrust”) of the UK by Centerbridge Partners of the US. AmTrust provides a range of non-life insurance and reinsurance services in the European Economic Area.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Centerbridge is an investment management firm focused on private equity and distressed investment opportunities. Amongst other businesses, Centerbridge solely controls Canopius, which provides non-life insurance and reinsurance services.

    The Commission concluded that the proposed transaction would raise no competition concerns given the companies’ modest combined market shares in reinsurance and non-life insurance (including in the sub-segments where the companies’ activities overlap, i.e. credit and suretyship, property, liability, accident and sickness, motor, and marine, aviation, and transport) and the presence of a number of competitors in these markets.

    Full Content: Europa

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.