(CercleFinance.com) – The European Commission has approved the acquisition of PartnerRe based in Bermuda by Covéa Coopérations based in France.
PartnerRe is a global player in reinsurance. Covéa is a mutualist group active in the life and non-life insurance sector, as well as, to a lesser extent, in the reinsurance, distribution of insurance products and asset management sectors.
The transaction concerned contracts for reinsurance services and, marginally, for non-life insurance. The Commission concluded that the proposed acquisition would not raise competition concerns, as the overlaps between the companies’ activities are very limited.
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