The Antitrust Authority’s penalty to Unipol

Apr 01 2001
Apr 01 2001

In April 2001, Unipol pays the penalty imposed by the (Italian) Competition and Market Authority in the previous fiscal year. The penalty has been imposed to Unipol and other companies in the industry for an alleged cartel aimed to raise the price level of car insurance and, despite the opposition of the companies, on 28 March 2001, the Lazio Regional Administrative Court confirms the order to pay the penalty, a decision that will be confirmed by the State Council in February 2002. In regard of the judgment, Unipol reiterates no association with the alleged violations of the rules of free competition, in the conviction that it has helped increase the reliability and transparency of the sector and has always operated in compliance with applicable legislation and market rules.