CELEX: 32018M9150
Language: en
Date: 2018-12-17 00:00:00
Title: Commission Decision of 17/12/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9150 - China Reinsurance (Group) Corporation / Chaucer) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels,17.12.2018
                                                                C(2018) 9085 final
                                                                        PUBLIC VERSION
                                                                To the notifying party:
Subject:        Case M.9150 - CHINA REINSURANCE GROUP CORPORATION /
                CHAUCER
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
                                1                                                                             2
                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 23 November 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which China Reinsurance
        (Group) Corporation (“China Re”, China), controlled by China Investment Corporation
        (“CIC”, China) acquire within the meaning of Article 3(1)(b) of the Merger Regulation
        sole control of the whole of Chaucer ("Chaucer"), comprising The Hanover Insurance
        International Holdings Limited (“HIIH”, UK), Chaucer Insurance Company Designated
        Activity Company (“CICDAC”, Ireland) and Hanover Australia Holdco Pty Ltd (“HAH”,
        Australia), which are all ultimately controlled by The Hanover Insurance Group, Inc
        (“THG”, USA) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             China Re is principally engaged globally in property and casualty (“P&C”)
              reinsurance, life and health reinsurance, primary P&C insurance and asset
              management. In the EEA, China Re activities focus on the provision of reinsurance,
              non-life insurance and asset management; and
             Chaucer is active globally in the provision of reinsurance, non-life insurance and
              specialty insurance.
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 432, 30.11.2018, p. 22.
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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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