Mergers: EU Commission clears the acquisition of sole control of AmTrust by Centerbridge

The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of AmTrust Corporate Member Limited and certain other business assets (“AmTrust”) of the UK by Centerbridge Partners L.P. of the U.S. AmTrust provides a range of non-life insurance and reinsurance services in the European Economic Area. Centerbridge is an investment management firm focused on private equity and distressed investment opportunities. Amongst other businesses, Centerbridge solely controls Canopius AG, which provides non-life insurance and reinsurance services. The Commission concluded that the proposed transaction would raise no competition concerns given the companies' modest combined market shares in reinsurance and non-life insurance (including in the sub-segments where the companies' activities overlap, i.e. credit and suretyship, property, liability, accident and sickness, motor, and marine, aviation and transport) and the presence of a number of competitors in these markets. The transaction was examined under the normal merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.9398.




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