BRUSSELS, June 11 The EU Commission said on
Wednesday it had cleared the sale of non-life insurance assets
by Italy's UnipolSai to Germany's Allianz.
In March Unipol agreed to sell assets with premiums worth
about 1.1 billion euros ($1.50 billion)to the German insurer, a
move it said would allow it to comply with Italian regulators.
Italy's antitrust authority had ordered Unipol to sell a
portfolio of assets with premiums worth about 1.7 billion euros
after it agreed to buy troubled rival Fondiaria-SAI in 2012.
The Commission, which examined the deal under the normal
merger review procedure, concluded that it would not raise
competition concerns citing limited overlaps.
($1 = 0.7345 Euros)
(Reporting by Francesco Guarascio, writing by Stephen Jewkes)