Allianz-Țiriac proposes measures for the acquisition of Campion Broker

The Competition Council has launched for public debate the commitments proposed by Allianz-Țiriac Insurance for the acquisition of Champion Insurance and Reinsurance Broker.

The purpose of these measures is to eliminate competitive concerns related to Allianz-Țiriac's access to sensitive commercial information of competitors. The completion of the transaction depends on the approval of ASF and the Competition Council. Allianz-Țiriac has proposed implementing strict internal procedures, including separate and independent management, to ensure the decision-making independence of Champion Broker.

The measures include prohibiting the favoritism of Allianz-Țiriac products and restricting access to sensitive data. Allianz-Țiriac, the second largest local insurer, has signed an agreement for the complete takeover of Champion Broker, which has a market share of 4.3%. Champion Broker, founded in 2007, will maintain its strong brand in the brokerage market.