CELEX: 32022M10636
Language: en
Date: 2022-04-12 00:00:00
Title: Commission Decision of 12/04/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10636 - COVÉA / PARTNERRE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 12.4.2022
                                                                 C(2022) 2476 final
                                                                                 PUBLIC VERSION
                                                                 Covéa Coopérations
                                                                 14 boulevard Marie et Alexandre Oyon
                                                                 72 000 Le Mans
                                                                 France
Subject:         Case M.10636 - COVÉA / PARTNERRE
                 Commission decision pursuant to Article 6(1)(b) of Council Regulation
                 (EC) No 139/20041 and Article 57 of the Agreement on the European
                 Economic Area2
Dear Sir or Madam,
1.      On 21 March 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Covéa
        Coopérations (‘Covéa’, France), controlled by Covéa SGAM (France), acquires within
        the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of
        PartnerRe Ltd (‘PartnerRe’, Bermuda), controlled by Exor N.V. (Netherlands). The
        concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are the following:
             Covéa is a mutual group headquartered in France active in life and non-life
              insurance, and to a minor extent in reinsurance, insurance distribution and asset
              management,
             PartnerRe is a global reinsurance company headquartered in Bermuda.
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 139, 29.03.2022, p. 7.
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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