The relevant markets for insurance and reinsurance, protection-indemnity (P&I) and freight, demurrage and defense (FD&D) insurance services, at global and national level (Greek territory) for the payment of insurance claims to members of mutual insurers, ship owners and ship charterers.

Decision on the notification of concentration under articles 5 to 10 of L. 3959/2011 concerning the concentration between the market operators under the names «The Standard Club Ltd», «The North of England Protecting and Indemnity Association Limited» and «The North of England Mutual Insurance Association (Bermuda) Limited», following the Statement of Objections under ref. no. 7230/28.7.2022 by the Commissioner-Rapporteur I. Stefatos.

Articles 6-8,  L. 3959/2011

Operative part of the Decision

The Hellenic Competition Commission, in Chamber, approved the notified concentration as, although falling within the scope of Article 6(1) of Law 3959/2011, it does not raise serious concerns as to its compatibility with competition rules in the individual markets concerned thereby.

1. «The Standard Club Ltd»,
2. «The North of England Protecting and Indemnity Association Limited» and
3. «The North of England Mutual Insurance Association (Bermuda) Limited»

According to the Decision, it is estimated that there is increased competitive strength in both the affected Protection and Indemnity (P&I) insurance market and the mutual insurance of Protection and Indemnity (P&I) and the affected Freight, Demurrage and Defense (FD&D) insurance market so that the merged entity is not in a position of economic pwer enabling it to prevent effective competition being maintained by creating or strengthening a dominant position in the relevant global markets concerned.