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Germany: Joint venture brings new insurance provider on the scene

By  |  March 8, 2013

According to a press release, the European Commission has given permission for Allianz SE and VW Financial Services AG to engage in a joint venture resulting in an international insurance and financial services provider. The two parties, both based in Germany, will reportedly join forces to offer insurance products, among other products, and will own its own license for offering those products. According to the Commission, the joint venture will continue to face competition in the market and thus did not raise major concern among the antitrust enforcer.

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