Irish Life Assurance plc / Registered Irish Life Insurance Agents [1999] IECA 550 (16th April, 1999)

Irish Life Assurance plc / Registered Irish Life Insurance Agents [1999] IECA 550 (16th April, 1999)

The agreement as amended by the waiver letter of 31 March 1999, which removed the requirement to adhere to the IIF agreement on maximum commission rates, does not contravene Section 4(1) of the Competition Act, 1991.

Citation
[1999] IECA 550
Parties
Notifying Party: Irish Life Assurance plc; Other Party: Registered Irish Life Insurance Agents
Jurisdiction
Ireland
Procedural Posture
Competition Authority Decision / Decision on Notification for Certificate or Licence Under Section 4 of the Competition Act, 1991
Outcome
Certificate issued; agreement does not contravene Section 4(1) of the Competition Act, 1991 as amended.
Legal Topics
Agency Agreements, Life Assurance Market, Commission Agreements, Anti Competitive Agreements, Section 4 Competition Act 1991
Competition Law Agency Agreements Life Assurance Market Commission Agreements Anti Competitive Agreements Section 4 Competition Act 1991

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Parties

Irish Life Assurance plc

Notifying Party

Registered Irish Life Insurance Agents

Other Party

Procedural Posture

Competition Authority Decision / Decision on Notification for Certificate or Licence Under Section 4 of the Competition Act, 1991

Legal Issues

  1. 1 Whether the agency agreement between Irish Life Assurance plc and its insurance agents contravenes Section 4(1) of the Competition Act, 1991
  2. 2 Whether the requirement to adhere to the Irish Insurance Federation’s Agreement on maximum rates of remuneration for life business is anti-competitive

Ratio Decidendi

The agreement as amended by the waiver letter of 31 March 1999, which removed the requirement to adhere to the IIF agreement on maximum commission rates, does not contravene Section 4(1) of the Competition Act, 1991.

Court Disposition

Certificate issued; agreement does not contravene Section 4(1) of the Competition Act, 1991 as amended.

Orders

  • The Competition Authority certifies that the agreement between Irish Life Assurance plc and its insurance agents, as amended by the waiver letter dated 31 March 1999, does not contravene Section 4(1) of the Competition Act, 1991.