Competition regulator puts conditions on German insurer

Published: 1-May-2006

The European Commission has insisted that German insurer Talanx sell off some of its pharmaceutical industry insurance interests as a condition of being given permission to buy rival insurance group Gerling.


The European Commission has insisted that German insurer Talanx sell off some of its pharmaceutical industry insurance interests as a condition of being given permission to buy rival insurance group Gerling.

Acting as an international competition regulator, the Commission found that both Talanx subsidiary HDI and Gerling have "a very strong position" in insuring German medicine manufacturers. An unfettered deal could "significantly reduce competition as regards liability insurance for pharmaceutical companies in Germany", said the Commission.

Brussels stressed the market was a specialist one, with few policy providers "because it means long term exposure with a high risk potential".

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