Competition Board concluded the investigation launched in order to determine whether 32 undertakings operating in the Traffic Insurance market as well as the Insurance Association of Turkey violated article 4 of the Act no 4054, in response to the claim that insurance companies operating in Turkey engaged in agreements distorting or restricting competition and/or concerted practices in the Compulsory Automobile Liability Insurance (Traffic Insurance) market by collusively increasing prices, thereby implementing excessive pricing and allocating markets.

As a result of the discussion of the file by the Competition Board on 19.07.2017, it was decided that the undertakings and association of undertakings investigated did not violate article 4 of the Act no 4054 and therefore it was not necessary to impose administrative fines on the undertakings in question under article 16 of the same Act.

Click here for the text of the pronouncement (in Turkish) for the decision dated 19.07.2017 and numbered 17-23/383-166, the reasoned version of which will be notified later and which can be appealed before Ankara Administrative Courts.