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Bank Millennium received UOKiK’s consent to sell shares in Millennium Financial Services to Europa Ubezpieczenia companies.


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On 23 March, President of the Office of Competition And Consumer Protection (UOKiK) consented to the concentration consisting in the creation of a joint venture Millennium Financial Services by Bank Millennium, Towarzystwo Ubezpieczeń Europa and Towarzystwo Ubezpieczeń na Życie Europa.

- Obtaining the consent of the competent antitrust authority will enable in the near future the finalization of the transaction consisting in acquisition by Europa Ubezpieczenia of 80% of shares in Millennium Financial Services currently operating in the Bank Millennium Group. The company will support us in creating new solutions for clients and servicing our already concluded insurance policies. The potential sale will have a positive support to the Bank's capital ratios - said Joao Bras Jorge, Chairman of the Management Board of Bank Millennium.

As a result of the transaction, the Bank will offer its clients selected insurance products of Europa companies on an exclusive basis. Bancassurance is a strategic area for Millennium - the new partnership will help the Bank achieve its business objectives, strengthen its capital position and accelerate the development of the insurance offer. According to the plan, the ten-year insurance cooperation will be launched in the 3rd quarter of 2023.

For many years, Bank Millennium has been offering its clients various types of insurance in sales channels convenient for them. These include both insurance providing protection for the repayment of credit products, assistance solutions supporting them in everyday life situations, tourist products accompanying them during the trip, as well as car or scooter insurance.