Chile’s National Economic Prosecutors (FNE) will be launching a probe to look into the country’s insurance industry, over 5 years since the last major overhaul of regulations, after problems were found related to the bidding process for mortgage insurance portfolios. The investigations will be headed by the anti-monopoly division, led by attorney Gastón Palmucci.
According to figures released by the Superintendence for Securities and Insurance (SVS), the number of participants in bidding contests for these portfolios has dropped by 24% in this period, while the number of contracts up for grabs rose by 43%. The number of individual companies presenting bids for these contracts also fell sharply, by 31%.
The FNE will not as of yet investigate any possible collusion, waiting instead for results of preliminary investigations which will focus on detecting any possible infractions caused by banks and mortgage lenders themselves with their own insurance services.
Full Content: Pulso
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pennsylvania Governor Opposes Nippon Steel’s Bid for U.S. Steel, Citing Union Concerns
Jul 30, 2024 by
CPI
Live Nation Attorneys Granted Limited Access to Confidential Documents in Antitrust Case
Jul 30, 2024 by
CPI
UK’s CMA Deepens Investigation into Amex GBT’s Acquisition of CWT
Jul 30, 2024 by
CPI
EU Regulators Advocate Formalizing Disinformation Code Under DSA
Jul 30, 2024 by
CPI
Spain’s Antitrust Watchdog Slaps Booking.com with €413.2 Million Fine for Market Abuses
Jul 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI