Lusitania cleared in cartel case

 In Insurance, Mutual Societies, News

The Portuguese insurance group Lusitania, which had been accused by the Portuguese Competition Authority (AdC) for having run a cartel with other companies, has been cleared of any violation of competition rules.

Back in 2019 the AdC ordered Lusitania to pay a hefty fine of just over €20 million – the maximum fine allowed under competition law in Portugal.
Lusitania, which is part of Montepio Geral, contested the accusations from the start of the case, and showed that there had been no proof of any violation of competition rules and suggested that the AdC had been extrapolating the behaviours confessed to by other insurers in the same case, and appealed.
On April 24 a court ruled in favour of Lusitania agreeing that the accusations made by the AdC had not been proven.