[autom.vertaling] De Commissie keurt fusie in de Spaanse verzekeringssector goed (en)

The European Commission has decided to approve the operation by which Spanish undertaking Vidacaixa, acquires the Spain-based undertaking Swiss Life España (SLE), belonging to Swiss Life Insurance and Pension Company Holding. The only overlap in the companies' activities was found to be in the Spanish life insurance sector but it did not result in a dominant position.

Both Vidacaixa and SLE are active in the provision of different modalities of life and non-life insurance and re-insurance services. Whilst Vidacaixa operates on an EU basis, SLE is exclusively present in Spain.

Vidacaixa belongs to Grupo Caifor which, following a transaction cleared by the Commission on 5 November 1992, is jointly controlled by La Caixa and Fortis Group⁽¹⁾. La Caixa focuses its activities on banking and financial services. It mainly operates in Spain and has also a presence in other Member States.

The only geographic market where the activities of the parties overlap is Spain and the economic activity life insurance. But even using the narrowest posible market definitions in the life insurance sector, the highest combined market shere will not exceed 20% and there remains a sufficient number of strong competitors.

Therefore the operation will not lead to the creation or strengthening of a dominant position on any market within the Common Market or the EEA and the Commission has decided to grant it's clearance.

^{(1)Case IV/M. 254 Fortis-La Caixa.}