Following a proceeding that showed the transaction will not limit competition, UOKiK has approved AXA Insurance to acquire Liberty Insurance.

Poland’s Office of Competition and Consumer Protection (UOKiK) has approved the AXA Insurance and Reassurance Company to acquire part of the assets of Madrid-based Liberty Seguros Compania de Seguros y Reaseguros. Both companies operate on the property and casualty insurance markets. Liberty operates in Poland under the name Liberty Insurance (formerly Liberty Direct). AXA will acquire the entire insurance business of Liberty Seguros in Poland, including its insurance and reinsurance rights, assets, liabilities, and all policies concluded with Liberty Insurance policyholders.     

UOKiK’s proceeding in the case showed that the transaction will not lead to a restriction of competition. The Authority considered the positions of both companies on the broader property and casualty insurance market, as well as for specific insurance types (sickness, accident, and comprehensive and liability automobile insurance).

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