Was unanimously approved (12.8.2025) by the Competition committee The acquisition of National Insurance by Piraeus Bank.
In particular, according to the announcement, on August 11, 2025, the Competition Committee received no. 888/2025 decision, which unanimously approved, pursuant to article 8 par.
Piraeus Bank is a public limited banking company, which is active in providing integrated financial services and products in the Greek market and abroad and is one of the country’s four systemic banks. Before completing the transaction, the National Insurance is under the indirect control of the CVC Capital Partners Sicav-Fis SA, operates as a multi-branch insurance company and is under the supervision of the Bank of Greece.
The rally relates primarily to the broader market for life -risk insurance and insurance and reinsurance services, as well as the market for insurance mediation and the distribution of bank insurance products. For the evaluation of the rally, data from twenty companies (banks and insurance companies), as well as by the relevant bodies, were collected. Taking into account the data of the file, the market shares of the participating businesses in the relevant markets, and that the channels of insurance mediation are interchangeable, the Competition Committee considered that the transaction, although it falls within the scope of paragraph 1 of article 6 of Law 3959/2011, does not change its competitive conditions, and/or vertical level. Furthermore, the available data showed that the concentration is not able to significantly limit competition or to the banking and services markets it concerns.
Regarding the distribution of insurance products through banks, it is noted that Piraeus Bank maintains existing partnerships with other insurance companies and will not distribute national insurance products through its own store network.
Therefore, according to the decision, the present concentration does not cause serious doubts about its compatible with the requirements of the operation of the competition in the relevant markets operating in the participating companies.