On 24 June 2021, the Aéma Group notified the Autorité de la concurrence of its plan to acquire sole control of the insurance company Aviva France.
Parties to the transaction
The Aéma Group and Aviva France are two French insurance operators active in the non-life and personal insurance, savings and asset management markets.
The Aéma Group, which has a turnover of 8.2 billion euros, all of which is generated in France, controls, among other companies, the mutual insurance company Macif, which is mainly active in non-life insurance (notably car and home insurance).
Aviva France, which generates revenue of approximately 6 billion euros almost entirely in France, operates through several subsidiaries: Aviva Vie, Aviva Epargne Retraite, Aviva Retraite Professionnelle, UFF Banque, Aviva Assurances and Aviva Investors France.
The transaction is not likely to harm competition
The Autorité analysed the market power of the new entity after the transaction. Given the market share of the new entity and the large number of stakeholders in the sector involved in the transaction, the Autorité considered that the transaction was not likely to harm competition.
The Autorité has thus unconditionally cleared the transaction.