Fidelidade - Companhia de Seguros, S.A.

The Portuguese Competition Authority sanctioned Fidelidade and Multicare for participating in a cartel involving market allocation and price coordination in insurance for large corporate customers, covering workplace-accident, health and motor insurance. Fidelidade and Multicare entered a settlement procedure in December 2018, admitted the facts and waived further judicial litigation. The two companies paid fines totalling EUR 12 million; court records identify Fidelidade's individual fine as EUR 11.9 million. The restrictive practice formed part of the broader insurance cartel investigated for conduct between 2010 and 2017. Sources: https://www.concorrencia.pt/en/articles/leniency-program-collaboration-exempts-seguradoras-unidas-payment-fine and https://www.concorrencia.pt/sites/default/files/processos/contencioso/TCRS-2023_04_24-IDF_2019_1-PRC_2017_10.pdf