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Competition probes in Romanian insurance sector lead to fines of EUR 29m

Romania
29/12/2022
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The Romanian Competition Council (RCC) finalised two major investigations in the insurance and a related sector and issued fines totalling EUR 29m. The fines were announced on 27 and 28 December, respectively.

After the first investigation, the RCC sanctioned three insurance companies and an insurance broker with over EUR 3m in fines for anti-competitive conduct in Romania's aviation-insurance market. As a result of the investigation, the RCC found that the companies had agreed to share aviation-insurance market tenders offered by big clients in Romania, therefore eliminating competition between each other. All the companies admitted participation in this anti-competitive conduct and were granted leniency.

In the second investigation, the RCC found that a number of companies in the car-repair and maintenance services market had colluded by coordinating pricing strategies for spare parts and labour, all within the context of a trade association. The RCC found that this conduct was facilitated and supported by certain insurers and insurance brokers, amplifying the impact and effects of the anti-competitive conduct.

These investigations are a stark reminder that compliance with competition rules should be a focus of companies across all sectors, and that the RCC is constantly on the lookout for any indication of anticompetitive conduct.

For more details on these rulings and to learn how CMS competition law experts can help your company implement a healthy and practical competition compliance programme, contact your CMS client partner or local CMS expert Cristina Popescu.

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