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EPAM Successful for Rosgosstrakh Before Federal Antimonopoly Service

EPAM Successful for Rosgosstrakh Before Federal Antimonopoly Service

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Egorov Puginsky Afanasiev & Partners has successfully represented insurance company Rosgosstrakh in a case in which Russia’s Federal Antimonopoly Service considered an agreement between the company and another undisclosed insurance company as anti-competitive.

According to EPAM, this is the first time that the Federal Antimonopoly Service has considered anti-competitive agreements between two independent insurance companies.

According to the firm, on July 14, 2021, the FAS ruled that "Article 11(4) of the Law on Protection of Competition on Life, Health, and Medical Insurance Markets had been violated and issued an order to terminate the anticompetitive agreements." It further explained that, under an indemnity program, Rosgosstrakh's fine is to be waived, while the fine for the counterparty could amount to RUB 300 million.

Anna Numerova, the Partner who led the EPAM team, commented: "The case had been pending since October 2020 amid significant personnel changes at the Antimonopoly Service. The regulator's decision could be decisive for the ongoing litigation between the insurance companies."

"We have made a number of attempts to terminate the agreements before the proceedings at the FAS commission," added Natalia Cheltsova, Vice President for Legal Affairs at Rosgosstrakh. "Rosgosstrakh is in agreement with the FAS commission’s decision and will take steps to comply with the improvement notice issued by the antimonopoly authority."

Aside from Numerova, the EPAM team included Senior Associate Olga Denchenkova.

EPAM at a Glance

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated office in Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru