China Reinsurance Gets EU OK For $950M Chaucer Buy
Law360, London (December 18, 2018, 6:38 PM GMT) -- The European Commission on Tuesday said it has approved China Reinsurance Group Corp.'s $950 million acquisition of global specialty insurer Chaucer Insurance Group PLC under Europe's merger rules.
Chaucer is made up of U.K.-based The Hanover Insurance International Holdings Ltd., Chaucer Insurance Company Designated Activity Co. in Ireland and Hanover Australia Holdco Pty Ltd. in Australia. The company provides reinsurance and non-life insurance across the globe. Because China Re provides property, casualty, life and health coverage, there will be some overlap between the two companies' activities, the commission said.
But the EU's antitrust regulator said the transaction will not raise competition...
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