- Vero Insurance Limited
- Terri Scheer Insurance Brokers Pty Ltd
SummaryVero Insurance Limited (a wholly owned subsidiary of Promina Group Ltd, which has recently been acquired by Suncorp Metway Limited) proposes to acquire Terri Scheer Insurance Brokers Pty Ltd.
Market definitionFor the purposes of this competition assessment, the relevant market was considered to be the national market for the manufacture and supply of home insurance and other types of domestic insurance excluding motor vehicle insurance.
Competition analysisThe ACCC formed the view that the acquisition is unlikely to substantially lessen competition in the relevant market, as the target firm only accounts for a very small market share, and there are a number of insurers who are likely to be able to constrain the merged firm.
ACCC commenced review under the Merger Review Process Guidelines. Market inquiries commenced.
ACCC announced it would not oppose the proposed acquisition