Brussels, 29/08/2006 (Agence Europe) - The Commission has authorised the project of the French group AXA to acquire the Swiss insurance firm, Winterthur. Despite overlapping on several non-life insurance markets in Belgium and on the motor insurance market in Luxembourg, the Commission does not believe there is a risk for competition. Given the position held by the parties on the motor insurance sector in Luxembourg and the presence of powerful competitors, it is unlikely that the operation will significantly hamper effective competition on this market, the Commission explains in a press release. On the Belgian non-life insurance market, the project will give rise to the largest provider of this kind of insurance product, but the barriers to entering the market are not significant and access to the distribution network is open, it adds.