The Portuguese Competition Authority imposes the highest fines ever applied for a cartel in the financial sector (Lusitania / Zurich)

Competition Authority, Portuguese

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1 Aug 2019

The Portuguese Competition Authority imposes the highest fines ever applied for a cartel in the financial sector (Lusitania / Zurich)

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Reference

Portuguese Competition Authority (Lisbon), Lusitania / Zurich, Press Release 16/2019, 1 August 2019

The first cartel sanctioned by the AdC in the Portuguese financial sector has the highest fines ever applied* The AdC applied a fine totalling more than €54 million on insurance companies, board members and directors involved in the “insurer cartel”. The proceedings is now concluded with the sanctioning of Lusitania - Companhia de Seguros SA and Zurich Insurance PLC. The undertakings involved in the cartel coordinated the prices for large corporate clients regarding

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Portuguese Competition Authority
Portuguese Competition Authority (Lisbon)

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Citation

Portuguese Competition Authority, The Portuguese Competition Authority imposes the highest fines ever applied for a cartel in the financial sector (Lusitania / Zurich), 1er août 2019, e-Competitions August 2019, Art. N° 91574

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