Spanish Court annuls fines imposed on insurers and reinsurers in cartel case
On November 12, 2009 the National Competition Commission (NCC) imposed fines amounting to €120.72m on insurance companies Asefa, Caser and Mapfre Global Risk (formerly Mapfre Empresas) and on reinsurance companies Mapfre Re, Scor Global, Swiss Re and Munich Re, for alleged participation in a cartel to fix minimum prices for premiums of 10-year building damage insurance from 2002 to 2007