May 14, 2019 / 10:00 AM / 12 days ago

EU regulators to investigate Insurance Ireland data pooling system

BRUSSELS (Reuters) - EU antitrust regulators opened an investigation on Tuesday into Insurance Ireland’s data pooling system, concerned that conditions set by the association to access the system may block rivals in violation of EU competition rules.

Insurance Ireland represents 95 percent of the domestic market and more than 80 percent of Ireland’s international life insurance market in the country. It has about 130 members contributing insurance claims data to the database.

The European Commission said its investigation will examine whether the conditions imposed on companies seeking to access the Insurance Link database may put them at a competitive disadvantage on the Irish motor insurance market compared with companies that already have access.

Reporting by Foo Yun Chee; editing by Philip Blenkinsop

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