Public Prosecution Commission Secretary General Notifies 4 Sompo Insurance Companies of Administrative Disposition Plans for Violating the Antitrust Law - Price Adjustments

July 10, 2024 15:38 JST
Secretary General Fujimoto Tetsuya of the Fair Trade Commission acknowledged on the 10th that the price adjustment issue for corporate coinsurance by the four major general insurance companies is being examined as an antitrust law violation (unfair transaction restriction) case, and that administrative punishment plans were notified to the 4 companies.

　　According to the person concerned, the Public Prosecution Commission has notified Tokio Marine & Nichido Fire Insurance, Sompo Japan, Mitsui Sumitomo Insurance, and Aioi Nissay Dowa Insurance, and plans to finalize the disposition after hearing opinions from the non-life insurance side. At the press conference on the same day, Secretary General Fujimoto stated “I will refrain from making specific comments” on the schedule of hearing opinions and disposition.

　　The target is insurance for Tokyu and Sendai International Airport (Natori-shi, Miyagi-ken), and Tokyu is investigating 4 companies and 3 companies excluding Aioi for Sendai International Airport. In December last year, the Public Investigation Commission visited 4 Sompo Insurance companies due to pre-adjustment issues and began inspections.