Many industrial risks insurers penalized

The German office of competition has inflicted fines upon several insurers of industrial risks accused of common pricing. Among the ten firms sanctioned, we can find the insurers: Allianz, Gerling, Gothaer, Victoria and AXA group's German branch. The total value of the fine amounts to 130 million euros (168 million USD). Other players should be indicted for the same offence of breaching competition rights.