CELEX: 32001M2661
Language: en
Date: 2001-12-12 00:00:00
Title: Commission Decision of 12/12/2001 declaring a concentration to be compatible with the common market (Case No COMP/M.2661 - WINTERTHUR / PRUDENTIAL ASSURANCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)

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32001M2661

Commission Decision of 12/12/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2661 - WINTERTHUR / PRUDENTIAL ASSURANCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)  

Official Journal 043 , 16/02/2002 P. 0020 - 0020

Commission Decision of 12/12/2001 declaring a concentration to be compatible with the common market (Case No IV/M.2661 - WINTERTHUR / PRUDENTIAL ASSURANCE) according to Council Regulation (EEC) No 4064/89 (Only the English text is authentic)Brussels, 12/12/2001SG (2001) D/292723 To the notifying partyDear Madam(s) and/or Sir(s),Subject: Case No. COMP/M.2661-Winterthur/Prudential Assurance Notification of 09 November 2001 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 [1] Publication in the Official Journal of the European Communities No. C 322/06 of 17/11/2001, p. 22[1]   OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.1. On 09.11.2001, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 [2] by which the Swiss based non-life insurance company Winterthur Swiss Insurance Company ("Winterthur"), which is controlled by the Swiss Credit Suisse Group ("CSG") acquires sole control of Prudential Assurance Company Ltd ("Prudential Assurance"; UK), a wholly-owned subsidiary by way of purchase of assets. [2]  OJ L 395, 30.12.1989 p. 1; corrigendum OJ L 257 of 21.9.1990, p. 13; Regulation as last amended by Regulation (EC) No 1310/97 (OJ L 180, 9. 7. 1997, p.  1, corrigendum OJ L 40, 13.2.1998, p. 17).The business activities of the undertakings concerned are: - CSG: is a Swiss group offering financial services and private banking, asset management and pension solutions world-wide.  - Winterthur:  is the holding company of CSG's non-life direct insurance businesses in the UK, Churchill Insurance Company Ltd ("Churchill Insurance") and The National Insurance and Guarantee Corporation plc. ("NIG").  - Prudential Assurance is an insurance company incorporated in England and Wales active in the non-life insurance business (Prudential General Insurance: Prudential GI). 2) After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 [3].[3]   OJ C 217, 29.07.2000, p. 32.For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.For the CommissionSigned by Mario MONTI,  Member of the Commission