The European Commission has closed its antitrust investigation into certain provisions accompanying claim-sharing and joint reinsurance agreements in the marine insurance sector.
The investigation focused on the International Group Agreement (IGA) and the Pooling Agreement between the P&I Clubs that contain rules on the sharing of insurance claims and joint reinsurance as well as rules on the contractual relationships between the P&I Clubs and their members. The aim of the procedure was to examine whether certain provisions of the agreements lessened competition between P&I Clubs and/or restricted, to a certain extent, the access of commercial insurers and/or other mutual P&I insurers to the relevant markets.
After opening proceedings in August 2010, the Commission conducted a market investigation with ship owners, brokers and commercial insurers, concluding that there insufficient evidence of anti-competitive practices.
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