South Korea’s Fair Trade Commission (FTC) has reportedly visited eight non-life insurers while seeking documents as part of an investigation it has launched into alleged collusive practices involving accident insurance.
Local media outlet Yonhap Infomaxai, citing unnamed industry sources, revealed yesterday that Samsung Fire & Marine Insurance, DB Insurance, Hyundai Marine & Fire Insurance, KB Insurance, Meritz Fire & Marine Insurance, Hanwha General Insurance, NH Nonghyup Property & Casualty Insurance, and Heungkuk Fire & Marine Insurance had been visited by the FTC.
The FTC did not comment. InsuranceERM has contacted the insurers for comment.
