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What’s New: In Brief (April 26, 2006)


April 26, 2006   by Canadian Underwriter


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It’s official: The European Commission has cleared Swiss Re’s acquisition of GE Insurance Solutions.
In a statement, the commission “concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.”
Swiss Re supplies traditional reinsurance services, both life and non-life reinsurance, on a worldwide basis. It also provides direct non-life insurance services via various subsidiaries.
GE Insurance Solutions also supplies traditional reinsurance services, both life and non-life, throughout the world. It also supplies direct non-life insurance in the United States and, to a lesser extent, in Europe and Canada.
“The parties activities overlap horizontally in the worldwide market for the provision of life and non-life reinsurance,” the commission noted. “However, on these markets the combined market shares of the parties are moderate and the parties face competition from a number of strong competitors
“The commission concluded that the transaction would not lead to competition problems as regards direct non-life insurance, because the activities of the parties are very limited in any national market or at EEA level.”

Disaster Kleenup International, Inc. (DKI), a North American network of independent property damage restoration contractors, has welcomed The Home Improvement Company, Inc. to DKI’s network in southern California.
The Home Improvement Company has been in business since 1997.
“We are delighted to welcome The Home Improvement Company into the rapidly growing DKI network,” DKI president Dale Sailer said in a press release. “Their commitment to quick response, superior workmanship and outstanding customer service reaffirms DKI’s position in the marketplace as The Source for Quality Restoration. We look forward to a long and rewarding association with them.”
As a DKI member, The Home Improvement Company will be able to use DKI’s 24-hour call center and its DIAMOND claims tracking technology to enhance service to insurance and corporate customers. The Home Improvement Company staff members are also eligible to participate in DKI training seminars and workshops, ensuring they remain abreast of changes and trends in the rapidly evolving restoration industry.


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