In terms of regulation 5(4) of the Control of Concentrations Regulations, 2002 published in Legal Notice 294 of 2002, the Director General of the Office for Competition notifies for general information that a notification of a joint venture between Atlas Insurance PCC Limited (Ta` Xbiex, Malta), GasanMamo Insurance Limited (Gżira, Malta), MaltaPost p.l.c. (Marsa, Malta) and APS Bank p.l.c. (Birkirkara, Malta) was filed on Monday, 30 December 2019.
The nature of the concentration represents the establishment of Vitae Life Limited, a new life insurance company having four equal shareholders being Atlas Insurance PCC Limited, GasanMamo Insurance Limited, MaltaPost p.l.c. and APS Bank p.l.c.
The economic sector involved concerns life insurance.
The Director General of the Office for Competition invites interested third parties to submit their written observations on this notified concentration within seven days following publication of this notice.