Philip Woolfson Predicts Narrowed Inquiry

Philip Woolfson, partner in Steptoe's Brussels office, is quoted extensively in the article "London trade body questioned by EC as investigation heats up" in the Monday, 22 August, 2005, edition of Insurance Day .

Mr. Woolfson remarks on the EC's recent mailing of questionnaires to national insurance and banking associations in the 25 member states across the European Union. He believes that the associations will probably be asked for data regarding "market share, profitability and more general information" and that the initial form will most likely cover "all areas of business insurance" since later on the commission will "narrow down its investigation if it found areas of concern."

Warning that the targeted associations will not have a great deal of time to collect the necessary detailed data, Mr. Woolfson predicts that once the EC authorities "digest what comes back from the associations, they will want to move forward and then it will be right down at company level."

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