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Case No COMP/M.5321 - LAHC / BARCLAYS LIFE

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 15/10/2008

In electronic form on the EUR-Lex website under document number 32008M5321

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

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 15.10.2008 SG-Greffe(2008) D/ 206209 C(2008) 6105

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.5321 - LAHC/ BARCLAYS LIFE Notification of 12.09.2008 pursuant to Article 4 of Council Regulation (EC) No 139/2004 Publication in the Official Journal of the European Union No C 244, 25.09.2008, p. 21

1.On 12 September 2008 , the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 by which the undertaking Life Assurance Holding Corporation Limited ("LAHC", UK) controlled by undertaking Swiss Reinsurance Company ("Swiss Re", Switzerland) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Barclays Life Assurance Company Limited and its wholly owned subsidiary BLAC Limited ( "Barclays Life", UK) by way of purchase of shares.

1OJ L 24, 29.1.2004, p. 1.

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

2.The business activities of the undertakings concerned are:

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-for undertaking LAHC : specialist acquirer and consolidator of life assurance companies;

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-for undertaking Swiss Re : supplier of reinsurance world-wide, life and non-life insurance;

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-for undertaking Barclays Life : supplier of life insurance in UK. Barclays Life is also holding a closed book of pensions/annuities business.

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No 139/2004 and of paragraph 5 (c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

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 (EC) No 139/2004.

For the Commission (signed) Philip LOWE Director General

2OJ C 56, 05.3.2005, p. 32.

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