Insurers dismiss watchdog’s allegations of cartel-like behaviour

Axa and AIG have rejected the Competition and Consumer Protection Commission’s preliminary findings that seven insurance bodies engaged in ‘anti-competitive cooperation’

30th May, 2021
Insurers dismiss watchdog’s allegations of cartel-like behaviour
Aidan Connaughton, the general manager of AIG in Ireland, said he had seen no evidence to support the CCPC’s findings

Two of the country’s largest insurers have rejected preliminary findings made by the state competition watchdog as part of a four-year investigation into alleged cartel-like behaviour.

The Competition and Consumer Protection Commission (CCPC) issued preliminary findings which alleged that seven insurance bodies, including Axa and AIG, engaged in “anti-competitive cooperation” including price signalling over a 21-month period.

The alleged anti-competitive cooperation included insurers making public announcements of future motor premium rises...

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