Ireland’s competition watchdog has made preliminary findings against five insurers, a broker and a trade body, alleging that they engaged in anti-competitive co-operation.
The Competition and Consumer Protection Commission (CCPC) stated AIG, Allianz, Axa, Aviva, FBD, along with Brokers Ireland and AA Ireland engaged in anti-competitive cooperation over a 21-month period between 2015 and 2016.
The alleged anti-competitive cooperation consisted of public announcements of future private motor insurance premium rises as well as other contacts between competitors.
These actions reduced levels of competition between the parties, the competition watchdog stated.
Full Content: Independent
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