On exemption from prohibited agreement between the insurance companies for the green card
The Competition Commission, by decision no. 499 dated 15.02.2018, “On exemption from prohibited agreement”, decided to exempt from prohibition the cooperation agreement between the insurance companies for the green card.
The exemption was granted under conditions and obligations based on Article 50, paragraph 2 of Law no. 9121/2003, in order to have sufficient competition in the relevant market and the agreement should not restrict the production or sales, share markets and customers, should not agree on selling premium prices.
The Deadline for the exclusion of the agreement pursuant to European Commission Regulation 267/2010 "On the application of TFEU 101 (3) for categories of agreements, decisions and practices in the insurance sector" and the regulation "For the implementation of Article 6 of Law, on the protection of competition against certain categories of agreements, decisions and practices in the insurance sector "is given for a period of 2 (two) years.
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