Allianz Malaysia has informed that in regards to the Malaysia Competition Commission’s application for leave to apply for judicial review against the decision of the Competition Appeal Tribunal that was in favour of Allianz and PIAM has been dismissed by the High Court.
COMPAT’s decision was given on 2 September 2022 in favour of the Company’s general insurance subsidiary, Allianz General Insurance Company (Malaysia) Berhad, other general insurers and Persatuan Insurans Am Malaysia overturning the infringement decision made against them by MyCC on 14 September 2020.
The High Court of Malaya at Kuala Lumpur held that MyCC’s application for leave to apply for judicial review was dismissed with costs of RM10,000 awarded to each of the 22 insurers (including AGIC) and PIAM.
