Brussels, 18 January 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Liberty Seguros, Compañía de Seguros y Reaseguros, S.A. (‘Liberty Seguros’) of Spain by Assicurazioni Generali S.p.A. (‘Generali’) of Italy.
The transaction relates primarily to the non-life insurance sector in Portugal, where the activities of the Liberty Seguros and Generali overlap.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on competition in the markets where the companies are active and the fact that the companies will continue to face competition from several strong rivals. The notified transaction was examined under the normal merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11234.
Source – EU Commission