COMMITMENTS REGARDING THE TRANSACTION IN THE INSURANCE MARKET SUBMITTED FOR PUBLIC CONSULTATION

Interested parties are invited to submit their opinions by 3 December this year on the commitments proposed by Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MRGAM). According to the Competition Council’s preliminary assessment, the proposed commitments would preserve effective competition in the low-premium segment of the carrier liability insurance market in Lithuania following the indirect acquisition by the aforementioned German company of 100% of the shares of the insurance company Gjensidige.

On 22 April 2025, the Competition Council received a notification from MRGAM regarding a merger involving the planned indirect acquisition, through ERGO International AG, of 100% of the shares of the insurance company Gjensidige.

After conducting a preliminary assessment of the received notification, the Merger Supervision Group established that the transaction would create or strengthen a dominant position or significantly restrict competition in the low-premium segment of the carrier liability insurance market in Lithuania.

In response to these findings, on 26 November, the German company submitted commitments to the Competition Council, offering to transfer all existing Gjensidige road carrier liability insurance contracts to a purchaser unrelated to the parties to the transaction. The purchaser must meet the requirements set out in the commitments and must be approved by the Competition Council. Among other things, MRGAM will be required not to compete for the transferred customers for two years, to provide transitional services at a time agreed with the purchaser, and to regularly inform the Competition Council about the implementation of the commitments.

The institution invites all interested parties to submit substantiated opinions regarding the commitments by 3 December 2025, by e-mail spg@kt.gov.lt.

The non-confidential version of the commitments can be accessed here.