Dáil Éireann Debate, Thursday - 28 February 2013
28. Deputy Niall Collins asked the Minister for Finance his views regarding the competition implications in the life and pensions sector of the sale of Irish Life to Great-West Lifeco; and if he will make a statement on the matter. [10598/13]
View answerI can inform the Deputy that the Competition Directorate of the European Commission will consider this transaction and their approval is required in order to complete the transaction. Without wishing to prejudge the matters under consideration it is my expectation that such approval will be granted and that the transaction will complete. In a more general sense I believe that the financial strength of Great-West Lifeco will be of great benefit to the life insurance and asset management markets in Ireland and will provide great comfort to the policyholders and customers of Irish Life.
