Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

This notification relates to the proposed acquisition of joint control by SCOR Global P&C SE ("SCOR") and Mutuelle des Architectes Français Assurances ("MAF") of Essor Participações Ltda in Brazil ("Essor"). The joint venture will develop MAF's presence in direct insurance in South America with the financial support of SCOR as minority shareholder.

SCOR Global P&C is the Non-Life reinsurance division of the SCOR SE group of companies. SCOR SE is a reinsurance group with operations in about 130 countries and is organised into two reinsurance divisions (i) Life and (ii) Non-Life. In Non-Life, SCOR underwrites different types of risks through its European branches and subsidiaries in France, Germany, Ireland, Italy, Spain, Switzerland and the United Kingdom.

MAF is a group of companies active in primarily providing primarily direct insurance services, in particular professional insurance cover for building designers such as building architects, interior architects, construction economists, landscape designers and construction engineers. Other than France, MAF is active in Belgium, Luxembourg, Germany, Italy and Spain.

Essor is a newly created Brazilian non-operational limited liability company that will become a direct insurance corporation upon receipt of regulatory approval from the Brazilian Superintendence of Private Insurance. Essor will provide bond coverage on public supported and private housing development and related building risk but will have no activities in the EEA.