The Office of Competition and Consumer Protection (UOKiK) has approved the acquisition of Link4 by PZU. The proceedings conducted showed that the concentration will not adversely affect competition or consumer protection.

Participants of the concentration – PZU and Link4 – offer non-life insurance products. PZU operates mainly through traditional distribution channels, e.g. a network of branches and sales outlets, as well as through agents and brokers. Link4 distributes its products mainly online and over the telephone. PZU’s application to acquire Link4 was submitted to the OCCP in May 2014.

The OCCP conducted market research asking competitors of PZU and Link4 to assess the transaction. The analysis focused on the impact the transaction may have on non-life insurance and individual insurance product markets, including motor insurance, which accounts for the largest part of PZU and Link4’s business. The proceedings conducted showed that the concentration will not have restrictive effects on competition.

“PZU’s position will not strengthen significantly on any of the analysed markets, mainly due to Link4’s small market share. Furthermore, for a few years now, PZU’s position has been systematically decreasing in the property and motor insurance market – to the benefit of its competitors. One of key aspects is that the concentration will not have a negative influence on consumers,” says Adam Jasser, President of the OCCP.

NOTE: According to competition regulations, the transaction is subject to notification to the competition authority if it involves an entrepreneur whose aggregate turnover generated in the preceding year exceeded EUR 1 billion worldwide or EUR 50 million in Poland.

Decisions authorising concentrations expire if the merger is not performed within 2 years from their issue. The OCCP website provides information on all antitrust proceedings related to concentration cases. More information on the rules governing mergers can be found here.

Additional information for the media:
Małgorzata Cieloch, Spokesperson for UOKiK
Press Office
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Phone: 22 827 28 92, 55 60 314, 55 60 430
Fax: 22 826 11 86
E-mail: malgorzata.cieloch@uokik.gov.pl