Allianz Australia Insurance Limited has acquired 70% of the shares in Primacy Underwriting Agency Pty Ltd and 60% of the shares in Agricola Holdings Pty Ltd.
Outcome of assessment
Not opposed
Total review days *
114
Commenced public review
1st June 2010
Date completed
10th November 2010
Market definition
The ACCC considered the completed acquisitions within the context of the national market for the supply of underwriting agency services to crop insurers. These services may include the distribution of crop insurance products to brokers and consumers.
Competition analysis
Due to the availability of substitutes, the availability of new entry and the significant countervailing power of insurance companies, the ACCC considered that the completed acquisitions were unlikely to substantially lessen competition in the market for the supply of crop insurance underwriting agency services to crop insurers, including the distribution of crop insurance products to brokers and consumers.
Review timeline
Date
Event
1st June 2010
ACCC commenced review under the Merger Review Process Guidelines.
15th June 2010
Closing date for submissions from interested parties.
10th November 2010
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
