The Danish Competition and Consumer Authority has initiated a market investigation into the non-life insurance sector for private individuals. This action follows an April report that identified potential issues with competition in the market.

The investigation will focus on pricing practices, particularly the disparity between rates offered to new customers and those who have been with the same insurance company for an extended period without renegotiating their agreements. The Competition Council aims to determine if the behavior of insurance companies is undermining competition and warrants intervention.

Christian Schultz, Chairman of the Competition Council, stated that the analysis revealed challenges to competition in the market for non-life insurance for private individuals. The market investigation seeks to uncover whether the behavior of insurance companies weakens competition to an extent that justifies intervention by the competition authority.

The investigation will examine various aspects of the market, including the prices customers pay for insurance products such as house, contents, travel, and car insurance.

The Competition Council operates as part of the Danish Competition and Consumer Authority but maintains independence from the Minister for Industry, Business and Financial Affairs.