PZU with green light to buy Link4

The Office of Competition and Consumer Protection (UOKiK) has approved the takeover of Link 4 by Poland’s largest insurer PZU, the watchdog said in a statement on Thursday. “PZU’s position will not strengthen significantly on any of the analyzed markets, mostly due to the low market share held by PZU,” said Adam Jasser, president of the UOKiK. “Apart from that PZU’s position on the non-life and automotive insurance markets have been steadily decreasing for several years, in favor of its competitors.” PZU announced the acquisition of Link 4 in Poland from Royal & Sun Alliance Insurance plc in mid April. Link 4 is the biggest direct insurance company in Poland.