INSURANCE COMPANIES TRANSFERRED UNLAFULLY OBTAINED INCOME TO THE BUDGET

05-07-2018 | 16:40

“Alfa Strakhovanie”, “Verna” and “Soglasie” reported on transferring 1,989,000 RUB to the federal budget – the income gained by violating the antimonopoly law  

 

Earlier St Petersburg OFAS issued 19 warnings to six insurance companies: “Alpha Strakhovanie” Ltd., “Verna” SO” Ltd., “Reso-Guarantia” Insurance PJSC,  “Energogarant” Insurance Shareholding Company” PJSC, “Max” CJSC and “Soglasie” Insurance Company”.

 

The companies changed tariffs filing their bids at an auction for OSAGO [mandatory third-party motor liability insurance] service, which they had no right to use under the current law. This way, they reduced the price and won.

 

For instance, the minimum possible price at one of the auction that would meet the legal requirements was 1,027,651 RUB. The winner - “Alpha Strakhovanie” – decreased the price to 938,114 RUB in breach of Article 14.8 of the Federal Law “On Protection of Competition”.

 

In view of the companies reports on executing the warnings and nearly 2 million RUB transferred to the federal budget, all warnings are fully executed.

 

Deputy Head of St Petersburg OFAS, Vyacheslav Tukaev commented: “The institution of warnings demonstrated its efficacy once again. The insurance companies understood that they must bid strictly within the frame of the law, observing the fair competition rules. The illegally obtained income is transferred to the budget. And OFAS did not waste human resources to open antimonopoly cases that could drug for up to nine months in accord with the procedures”.