Brussels, 24/02/2011 (Agence Europe) - On 23 February, the European Commission opened in-depth investigations in the export-credit insurance sector in Belgium and in Italy. It will have to decide whether the Belgian state-owned credit insurance body Office National de Ducroire (ONDD) and its Italian counterpart SACE acted as “normal market economy investors” in providing their respective short-term export-credit insurance subsidiaries, Ducroire and SACE BT with capital injections of €150 million (ONDD) and €105 million (SACE) on their establishment in 2004. In addition to these two initial capital injections, the Commission will investigate, in the Italian case, the reinsurance cover provided by SACE for SACE BT and the further capital injected to cover SACE BT's losses in 2009. As to the Belgian case, it will examine in more detail the state guarantee covering ONDD's activities and possible internal transfers of resources within ONDD for activities which were subsequently transferred to Ducroire. None of the measures above were notified to the Commission by the two member states concerned. The Commission has received a complaint from a competitor. (F.G./transl.rt)