The UK OFT considers that a pooling agreement between British insurers set up to provide reinsurance against acts of terrorism was contrary to national competition provisions but met the criteria for individual exemption (Pool Re)

Background On 7 March 2003, Pool Re, a company set up in 1993 by British insurers to act as a reinsurer in respect of terrorism cover, requested from the Office of Fair Trading (“OFT”) a decision that the arrangements governing its operations were not contrary to UK antitrust rules - especially the Chapter I prohibition of Competition Act 1998, the UK equivalent of art. 81 EC - or, in the alternative, an individual exemption decision under section 4 and 9 of the same Act (equivalent to art. 81 (3) EC). The OFT concluded on 15 April 2004 that some of the rules of Pool Re gave rise to appreciable competition concerns, but that the requirements for individual exemption were met. Even though the possibility for the OFT to accept such notifications for a decision or guidance under the

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  • French Ministry of Economy and Finance (Paris)

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David Revelin, The UK OFT considers that a pooling agreement between British insurers set up to provide reinsurance against acts of terrorism was contrary to national competition provisions but met the criteria for individual exemption (Pool Re), 15 April 2004, e-Competitions April 2004, Art. N° 1397

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