08/12/2014 (Agence Europe) - Mergers: ReAssure Ltd buys up HSBC Life's pensions arm in the United Kingdom. On Monday 8 December, the European Commission gave the go-ahead to the acquisition of sole control of the United Kingdom pensions business of HSBC Life (UK) Limited by Swiss Re Group of Switzerland (via its subsidiary ReAssure). Swiss Re is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer for both life and non-life products. HSBC Life (UK) Limited comprises various UK personal pension schemes, some executive pension plans and individual buy-out policies together with an associated annuity book and certain other assets, liabilities and employees necessary for the portfolio's underwriting, management and administration. The Commission concluded that the proposed acquisition would raise no competition concerns because of the companies' moderate combined market shares on the markets concerned. (EL)