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Insurance merger cleared for Talanx and Meiji Yasuda’s joint control over Warta

By  |  April 4, 2012

The European Commission has cleared Talanx and Meiji Yasuda Life Insurance’s proposed acquisition of joint control over Towarzystwo UbezpieczeÅ„ i Reasekuracji Warta. Talanx is a subsidiary of German insurance company HDI; Meiji Yasuda is a Japanese insurance company. Warta is part of the Belgian KBC Group, but KBC is required to sell Warta pursuant to a state aid restructuring plan approved by the European Commission.

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    The acquisition was cleared because “the parties would have only a moderate combined market presence [and] the addition in market share resulting from the transaction is negligible.”

    Full content: EC Press Release

     

    Related content: Is a Safe Harbour for Insurance Still Justified? (Eithne McCarthy, European Commission)