OREANDA-NEWS. February 03, 2012. According to a determination of the Office of the Federal Antimonopoly Service in Moscow (Moscow OFAS Russia), “MAKS” CJSC fully paid over 919,000 Rubles as a fine to the budget of the Russian Federation for participating in an anticompetitive agreement, reported the press-centre of FAS Russia.

Earlier the Commission of Moscow OFAS Russia found that “VSK” Open Joint-Stock Insurance Company, “NRBank” Shareholding Commercial Bank (OJSC) and “NIIkom” Ltd., “MAKS” CJSC, “Ingosstrakh” Open Joint-Stock Insurance Company, “ROSNO” Insurance Company” OJSC, “SOGAZ” OJSC, “MSK” Insurance Company” OJSC, “PARI” Insurance Company” OJSC and “Rosgosstrakh” Ltd. concluded an anticompetitive agreement in violation of Clause 5 Part 1 Article 11 of the Federal Law “On Protection of Competition”.

The bank and insurance companies concluded an agreement, according to which counteragents (borrowers) were obligated to maintain personal title insurance in a limited list of the above insurance companies.

To eliminate the consequences of violations of the antimonopoly law, Moscow OFAS Russia issued a determination to “VSK” Open Joint-Stock Insurance Company, “MAKS” CJSC, “Ingosstrakh” Open Joint-Stock Insurance Company and “SOGAZ” OJSC to stop the violations. Moscow OFAS Russia closed antimonopoly proceedings against “MSK” Insurance Company” OJSC, “PARI” Insurance Company” OJSC and “Rosgosstrakh” Ltd., as by the time of considering these cases unlawful contracts were terminated.

As of today, the antimonopoly body has fined “NIIkom” Ltd. and “NRBank” Shareholding Commercial Bank (OJSC) – 100,000 Rubles, “SOGAZ” OJSC – over 1 million Rubles, and “VSK” Open Joint-Stock Insurance Company – over four million Rubles.