October 2007
In-sure
This month's roundup of developments affecting the insurance industry sees the European Commission adopting the Final Report of the Business Insurance Sector Inquiry and the FSA publishing the Thematic Update on PPI. Also in this issue, the Chancellor of the Exchequer, confirming that the government would increase protection for savers by guaranteeing deposits of up to £100,000.
Commission Clears Proposed Acquisition of the AA and SAGA by CVC, Charterhouse and Permira
The European Commission has approved, under the EU Merger Regulation, the proposed take-over of the AA and Saga, both active in the provision of vehicle breakdown services in the UK, by three private equity firms, CVC of Jersey, Charterhouse of the UK and Permira of Guernsey.
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