24/07/2012 (Agence Europe) - Approval of acquisition of part of Gan Eurocourtage by Allianz. On 24 July, the European Commission approved the proposed acquisition by the French subsidiary of the German Allianz insurance group of a non-life insurance portfolio belonging to the French insurance company Gan Eurocourtage SA. The portfolio comprises insurance contracts and related brokerage businesses, assets and liabilities. The Commission's investigation confirmed that the notified operation would not raise competition concerns because it would not significantly alter the market structure. The Commission examined, in particular, the competitive effects of the proposed acquisition on the production, underwriting and distribution of non-life insurance and assistance services in France, which is the only country in the European Economic Area (EEA) where the two companies' activities overlap. (OL/transl.rt)