OREANDA-NEWS. May 25, 2010. The Commission of the Federal Antimonopoly Service (FAS Russia) suspended until 17th June 2010 the case "KRK" CJSC (Retail Lending Company), "KRK" Commercial Bank" (OJSC) and 24 insurance organizations for the elements of violating Part 1 Article 11 of the Federal Law "On Protection of Competition". The suspension is necessary to obtain additional evidence in order to proceed with the case against "KRK" CJSC, "KRK" Commercial Bank" (OJSC), "Rosgosstrakh" Ltd., "Admiral" Insurance Group" Ltd., "Renaissance Insurance Group" Ltd., "KRK-Strakhovanie" Ltd., "MSK" Insurance Group" OJSC, "AlphaStrakhovanie" OJSC, "Yugoria" Group of Insurance Companies" OJSC and "Russian Insurance Company" OJSC, reported the press-centre of FAS Russia.

The case was initiated upon the findings of an inspection of interaction between "KRK" CJSC, "KRK" Commercial Bank" (OJSC) and insurance organizations to verify compliance with the antimonopoly law. The investigation was carried out upon complaints from physical persons regarding actions of "KRK" CJSC and "KRK" Commercial Bank" (OJSC).

In course of the investigation FAS Russia revealed agreements between "KRK" CJSC and insurance organizations that had signs of violating Article 11 of the Federal Law "On Protection of Competition": fixing the rates for vehicle insurance and imposing unfavourable contract conditions upon clients of "KRK" CJSC and borrowers of "KRK" Commercial Bank" (OJSC) for buying vehicles with payment by installments.

Due to the absence of the facts confirming any signs of antimonopoly violations in the actions of some companies, FAS Russia decided that the following insurance organization would no more be respondents in the case:

"Rossia" Open Joint-Stock Insurance Company

"Ingosstrakh" Open Joint-Stock Insurance Company

"Zurich. Retail" Insurance Company" Ltd.

"Soglasie" Insurance Company" Ltd.

"Oranta" Insurance Company" Ltd.

"Yugoria" Group of Insurance Companies" OJSC

"Military-Insurance Company" OJSC

"National Insurance Group" Open Joint-Stock Insurance Company

"Progress-Garant" Insurance Company OJSC

"ROSNO" OJSC

"INNOGARANT" Insurance Company" Ltd.

"MAKS" CJSC

"GUTA-Strakhovanie" CJSC

"UralSib" Insurance Group" CJSC

"RESO-Garantia" Open Joint-Stock Insurance Company

"Russky Mir" Insurance Company" OJSC

"First Insurance Company" Ltd.