CELEX: 32022M10602
Language: en
Date: 2022-04-01 00:00:00
Title: Commission Decision of 01/04/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10602 - SWISS LIFE INTERNATIONAL HOLDING / ELIPS LIFE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 1.4.2022
                                                                 C(2022) 2199 final
                                                                                 PUBLIC VERSION
                                                                 Swiss Life International Holding AG
                                                                 General-Guisan-Quai 40
                                                                 8002 Zurich
                                                                 Switzerland
Subject:        Case M.10602 – SWISS LIFE INTERNATIONAL HOLDING / ELIPS
                LIFE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
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                Economic Area
Dear Sir or Madam,
1.      On 10 March 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Swiss Life
        International Holding AG (‘Swiss Life’, Switzerland), will acquire within the meaning
        of Article 3(1)(b) of the Merger Regulation sole control over the whole of Elips Life
        AG (‘ELAG’, Liechtenstein) and the A&H insurance portfolio of Elips
        Versicherungen AG (‘A&H’, Liechtenstein, together with ELAG referred to as
        ‘ELAG-A&H’), both controlled by elipsLife EMEA Holding B.V. (Netherlands),
        itself ultimately controlled by Swiss Re Ltd (Switzerland) by way of purchase of
        shares.3
2.      The business activities of the undertakings concerned are the following:
             Swiss Life is a European provider of life insurance, risk, pensions, asset
              management and other financial products,
             ELAG-A&H is a European insurance company providing a range of insurance
              products to institutional clients (B2B business).
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 123, 18.03.2022, p. 42.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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