25/04/2006 (Agence Europe) - The European Commission has cleared the planned acquisition of a substantial part of the direct insurance and reinsurance businesses of the US based General Electric Company (GE IS) by Swiss Reinsurance of Switzerland. The parties´ activities overlap horizontally in the worldwide market for the provision of life and non-life reinsurance. However, on these markets the combined market shares of the parties are moderate and the parties face competition from a number of strong competitors, comments the European Commission, concluding that the deal would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.