Authority vows to examine insurance and banking

The Competition Authority has vowed to examine the insurance and banking sectors over the next 12 months.

Professional practices like doctors and lawyers will also be looked at, as the CA presented its first annual report under new competition legislation.

The CA said it supervised 47 merger activities during the year and initiated legal proceedings in five new cases during the year.

The Authority reported 'considerable progress' on three studies into the non-life insurance market, the Irish banking sector and an analysis of eight professions.