On 31 March 2017, the Insurance Block Exemption Regulations (IBER) will expire. IBER currently exempts two types of (re)insurance agreements from the general EU competition law prohibition on anti-competitive agreements. The exemptions relate to the exchange and/ or aggregation of data in statistics and studies and to the joint insurance and/or reinsurance of risks in pools.
The expiry of IBER does not mean that these agreements are automatically anti-competitive. However, (re)insurers will need to conduct a self-assessment of these arrangements to see whether they are in line with antitrust rules. The Commission has also stated that it will continue to monitor developments in the market to evaluate how (re)insurers adapt to this change.
A link to the European Commission's press release is here.