Monday, 05 April 2021 19:08

Press Release - Clearance of the concentration, concerning the acquisition by "Assicurazioni Generali - Societa per Azioni" regarding the acquisition of sole control over "Axa Insurance S.A".

Subject: Clearance by the Hellenic Competition Commission of the concentration, which was notified to pursuant to Art. 6(1)-(3) of Greek Law 3959/2011, concerning the acquisition by the company under the name "Assicurazioni Generali - Societa per Azioni" regarding the acquisition of sole control over the company under the name "Axa Insurance S.A".

On 01/04/2021, by its unanimous Decision No. 732/2021, the Hellenic Competition Commission approved pursuant to Art. 8(3) of Greek Law 3959/2011, the proposed acquisition by the company under the name "Assicurazioni Generali - Societa per Azioni"of the 99,9% of the shares of the company under the name "Axa Insurance S.A." (Greek brunch). 

Pursuant to the above decision, the Hellenic Competition Commission found that the proposed concentration which primarily concerns the wider market for life insurance, non-life insurance and reinsurance services and the sub-markets for risk insurance, of transported goods, of fire and nature elements and other property damage,  while falling within the scope of Art. 6 of Greek Law 3959/2011, does not raise any serious doubts as to its compatibility with the competition rules in the relevant markets involved.

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