OREANDA-NEWS. April 8, 2011. In relation to publications in media sources with respect to a claim by Ingosstrakh OJSIC against Moscow Office of the Federal Antimonopoly Service, the company explains the following.

Moscow Office of the Federal Antimonopoly Service considered that Ingosstrakh OJSIC violated antitrust law by allegedly imposing its insurance services on borrowers of the Bank of Moscow. At that, a complaint by a borrower was received with respect to another insurer.

At the same time, during its operations, Ingosstrakh OJSIC neither imposed disadvantageous insurance conditions on its clients nor forced its borrowers to conclude agreements on unfavorable terms and conditions. All insurance agreements with the Bank of Moscow clients were concluded by mutual consent and proceeding from free and direct expression of borrowers’ will.

Considering the absence of antitrust law violation by Ingosstrakh OJSIC as well as infringement of rights and interests of the company as a faithful participant of business relations as a result of such resolution by Moscow Office of the Federal Antimonopoly Service Ingosstrakh OJSIC was the first party under the case to sent an application to the Arbitration court of Moscow to appeal the resolution.