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Mergers: Commission clears the acquisition of #LegalAndGeneralInsurance by #Allianz

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The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Legal and General Insurance Limited (L&G Insurance) of the UK by Allianz Holdings plc (Allianz), which is a UK subsidiary of the Allianz group of Germany. Both L&G Insurance and Allianz offer various kinds of non-life insurance in the UK. Allianz is also active in life insurance, reinsurance and asset management. The proposed transaction gives rise to a limited number of horizontal and vertical overlaps in relation to the provision of pet insurance in the UK. The Commission concluded that the proposed transaction would raise no competition concerns because of its limited impact on the markets concerned. The 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.9432.

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