ECONOMY FINANCE&BANKING

Competition Council starts investigation on insurance market

The Competition Council has started, ex officio, an investigation into the possible infringement of national and European competition rules on the part of Media Xprimm, the National Union of Romanian Insurance Companies (UNSAR), UNSAR member companies as well as other insurance companies, a Competition Council communiqué shows.

The investigation concerns a possible exchange of commercially sensitive information between insurance market competitors, the communiqué shows.

As part of the investigation it has started, the Competition Council has conducted unannounced inspections at the headquarters of UNSAR, Media Xprimm and of UNSAR member companies. The documents confiscated are being analyzed by the Competition Council, as part of specific investigation procedures.

The Competition Council points out that these unannounced inspections represent a preliminary stage of the procedures entailed by the investigation of potential anti-competitive behaviour. The conducting of these inspections does not represent a statement in what concerns the guilt of the companies investigated nor in what concerns the final result of the investigation.

 

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