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Case No COMP/M.2619 - ZURICH / DEUTSCHE BANK INSURANCE BUSINESS

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REGULATION (EEC) No 4064/89 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 26/03/2002

Also available in the CELEX database Document No 302M2619

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 26.03.2002 SG (2001) D/229078

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC VERSION

To the notifying party

Dear Madam(s) and/or Sir(s),

Subject: Case No. COMP/M.2619- Zurich/Deutsche Bank Insurance Business Notification of 25 February 2002 pursuant to Article 4 of Council Regulation (EEC) No. 4064/89 Publication in the Official Journal of the European Communities No. C 58 of 05/03/2002, p. 22

1.On 25.02.2002, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EEC) No 4064/89 by which the Swiss based insurance group Zurich Financial Services Group (“Zurich”) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the insurance business of German Deutsche Bank (“DB Insurance Business”) by way of purchase of shares.

1OJ L 395, 30.12.1989 p. 1; corrected version OJ L 257 of 21.9.1990, p. 13, as last amended by Regulation (EC) No 1310/97, OJ L 180, 9.7.1997, p. 1, corrigendum in OJ L 40, 13.2.1998, p. 17.

Rue de la Loi 200, B-1049 Bruxelles/Wetstraat 200, B-1049 Brussel - Belgium Telephone: exchange 299.11.11 Telex: COMEU B 21877. Telegraphic address: COMEUR Brussels.

2.The business activities of the undertakings concerned are:

-- Zurich: financial services, life insurance, non-life insurance, banking and capital markets.

-- DB Insurance Business: life and non-life insurance activities to private and corporate clients.

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EEC) No. 4064/89 and of paragraph 4, subparagraph c of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EEC) No 4064/89 .

4.For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EEC) No. 4064/89.

For the Commission

(Signed)

Mario MONTI Member of the Commission

2OJ C 217, 29.07.2000, p. 32.

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