Reinsurance giants in EUR120mn fine for Spanish ‘cartel’

Spanish competition authority the Comisión Nacional de la Competencia (CNC) has fined local insurers Asefa, Mapfre and Caser and leading global reinsurers Munich Re, Swiss Re and Scor a total of EUR120mn, for operating what it described as a price cartel for decennial liability insurance in the Spanish market.

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