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Image header Agence Europe
Europe Daily Bulletin No. 7926
Contents Publication in full By article 33 / 47
GENERAL NEWS / (eu) eu/competition

Commission authorises Toro Assicurazioni to buy Lloyd Italico

Brussels, 19/03/2001 (Agence Europe) - The European Commission authorised the planned acquisition, from the British group Royal & Sun Alliance, of the Italian insurance companies Lloyd Italico Assicurazioni (Li Assicurazioni) and Lloyd Italico Vita by Toro Assicurazioni. Controlled by the Fiat Group, the latter provides life and non-life insurance products in Italy and, to a lesser extend, re-assurance. The companies bought are also active in life and non life insurance, but on a small scale and thus do not significantly reinforce the activities of Toro in these sectors. Thus Toro remains submitted to significant competitive pressure from Generali, Allianz, San Paolo IMI, SAI as well as the seller Royal & Sun Alliance, which remains present in Italy.

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