The Service of the Commission for the Protection of Competition received on behalf of the company MMC UK Group Ltd, notification of a proposed concentration according to Article 13 of the Control of Concentration between Enterprises Law (Number 22(I)/99), concerning an agreement between MMC UK Group Ltd and HSBC Insurance Brokers Holdings Ltd by which MMC UK Group Ltd will acquire 100% of the share capital of HSBC Insurance Brokers Ltd.
MMC UK Group Ltd is a holding company registered in England which belongs to Marsh & McLennan Companies Inc. This group of companies is active in the risk advisory services, insurance broking, reinsurance broking services, consulting and risk consulting sectors. MMC UK Group Ltd is active in Cyprus through its subsidiary Marsh Inc. in the insurance broking and reinsurance broking sectors.
HSBC Insurance Brokers Ltd is an international company which offers risk intermediary, risk advisory and other services. This company is active in Cyprus in the insurance broking sector.