Decision of the Competition Council of the Hungarian Competition Authority (Gazdasági Versenyhivatal - GVH) Vj-45/2006: MBI Nemzetközi Marketing Tanácsadó és Biztosításközvetítő Kft., Union Biztosító Zrt., Kereskedelmi és Hitelbank Rt.
The Competition Council of the Hungarian Competition Authority (Gazdasági Versenyhivatal - GVH) established in its decision, issued on 7 September 2006, that MBI Nemzetközi Marketing Tanácsadó és Biztosításközvetítő Kft., Union Biztosító Zrt., Kereskedelmi és Hitelbank Rt. infringed the provisions on the prohibition of unfair manipulation of consumer choice of the Hungarian Competition Act.
In the competition supervision proceeding the Competition Council of the GVH concluded that the advertisements of the three undertakings, which stated that, by signing a life insurance agreement, the consumer will be able to benefit from a preferential credit for the purchase of an apartment. However, the latter has been proven not to be true.
The Competition Council of the GVH imposed the following fines for the unlawful behaviour of the three undertakings: MBI Nemzetközi Marketing Tanácsadó és Biztosításközvetítő Kft.: HUF 72 million (approx. EUR 252600), Union Biztosító Zrt.: HUF 24 million (approx. EUR 84200), Kereskedelmi és Hitelbank Rt.: HUF 3 million (approx. EUR 10500)
Budapest, 8 September, 2006
Budapest, 8 September, 2006
Further information:
Mihálovits András
Hungarian Competition Authority
1054 Budapest, V., Alkotmány u.5.
1245 Budapest, 5. Pf. 1036
tel: (+36-1) 472-8902
email:
MIHALOVITS.Andras@gvh.hu
http://www.gvh.hu