July 4, 2017 / 3:24 PM / 6 months ago

EU antitrust regulator raids Irish car insurers

BRUSSELS (Reuters) - The EU antitrust regulator raided on Tuesday several car insurers which may have taken part in a cartel, the European Commission said.

The EU competition enforcer did not name the companies in line with its policy. The raids were carried out together with officials from the Irish Competition and Consumer Protection Commission.

Companies found guilty of fixing prices and abusing their market power can be fined up to 10 percent of their global revenues.

Reporting by Foo Yun Chee, editing by Julia Fioretti

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