CGU/Hibernian - Insurance

United Kingdom
31/03/2000
Download PDF

Background

Acquisition by CGU of sole control of Hibernian. CGU provides all classes of insurance and life-insurance in Europe, North America, Asia, Australia. It also provides other related financial services. Hibernian provides the same products almost entirely in Ireland and, to a minor extent, in continental Europe.

Assessment

Following the Commission’s practice in the insurance sector, the relevant markets were defined as being: general insurance, life insurance and re-insurance. The Commission did not more precisely define the relevant product market or the relevant geographic market.

While CGU’s principal operations are in the UK and to a lesser extent in a range of other Member States including Ireland, Hibernian is essentially active in Ireland, having sold its UK general insurance business in 1998. Given the parties’ market shares in the relevant markets and the presence of strong competitors in all segments of the Irish general insurance business, the Commission concluded that the concentration does not create or strengthen a dominant position. (Case n° COMP/M.1777, Decision of 18/01/00).

Search Filters

Advanced Search

Related content