Mergers: EU Commission clears acquisition of a part of Zurich Investments Life SPA’s life insurance business by GamaLife

 

The European Commission has approved, under the EU Merger Regulation, the acquisition of a part of the life insurance business of Zurich Investments Life S.p.A. (‘Zurich’) of Italy by GamaLife – Companhia de Seguros de Vida, S.A. (‘GamaLife’) of Portugal.

Zurich’s business includes a portfolio of life insurance contracts together with the relevant assets.

GamaLife is a life insurance company, primarily active in Portugal.

The Commission concluded that the proposed acquisition would raise no competition concerns given that the parties’ insurance activities do not overlap geographically. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10582.

www.ec.europa.eu