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Case details

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Merger control
Case reference
CCENT/2005/63 - EUROVIDA / GRUPOS BNC / AVIVA
Acquired
Assets Aviva Vie
Description
AVIVA VIE Portugal is an insurance company branch controlled by Aviva Vie -Société Anonyme d´Assurances Vie et de Capitalisation ("AVIVA VIE Sociedade-mãe"), an undertaking under French law. In Portugal, through its local branch, the latter exercises insurance activities in the "Life" area.
Acquiring
Eurovida - Companhia de Seguros de Vida, S.A.
Description
is an insurance company whose corporate object is the exercise of life insurance activities; it belongs to the bank BNC - Banco Nacional de Crédito SA;
Sector
  • Banking, Financial and Insurance activities
Activity (NACE)
  • K65 - Insurance, reinsurance and pension funding, except compulsory social security
Applicable legislation
Art. 9(1)(b) (Law 18)
Notification thresholds
Turnover
Type of merger
Horizontal
Cooperation with sector regulators
  • ASF - Insurance and Pension Fund Supervisory Authority
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Case description
Notified on 14 October 2005, this merger consists of the acquisition of property rights over the assets of the life insurance policy portfolio and the assets representing the technical provisions ("Assets") which are held by Aviva Vie - Société Anonyme d´Assurances Vie et de Capitalisation - Sucursal em Portugal ("AVIVA VIE Portugal"); they shall henceforth be solely controlled by Eurovida - Companhia de Seguros de Vida SA (referred to below as "EUROVIDA").
Timeline
2005-11-23
Competition Authority approves EUROVIDA´s acquisition of the control of property rights over the assets of the life insurance policy portfolio and the assets representing the technical provisions of AVIVA VIE Portugal
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