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’
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 as well as other ...