CEE M&A Monitor
Financial services · insurance broking Romania Regulatory clearance — with conditions 13 Oct 2026

Allianz-Țiriac cleared, with conditions, to acquire insurance broker Campion Broker

On 13 October 2026 Romania's Competition Council announced that it has cleared, with conditions, the transaction through which insurer Allianz-Țiriac Asigurări S.A. intends to take over Campion Broker de Asigurare și Reasigurare S.R.L. The authority identified a risk that, through the broker, Allianz-Țiriac could gain access to commercially sensitive information of competing insurers that work with Campion — including premium levels, commercial terms, sales strategies and intermediation commissions. Allianz-Țiriac committed to separate the management of the two companies; not to favour its own products in Campion's activity, with client recommendations based on objective and verifiable criteria; to limit its access to competitors' sensitive information through clear information-exchange rules, predefined reporting templates and dedicated teams; and to set up IT and organisational barriers. An independent trustee appointed by the Council will monitor compliance for three years, extendable by one or two years. The price was not disclosed. According to press reports, the deal still requires approval from the insurance supervisor ASF.

Our take The conditions show where the value and the risk sit in a broker: its independence. A broker owned by one insurer but placing business with its competitors is only worth as much as the trust those competitors keep in it — hence separate management, objective recommendations and information firewalls, watched by a trustee for at least three years. For a product provider buying a brokerage or other intermediary, these behavioural remedies are the template to expect, and they limit how far it can integrate the business.
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