Brussels, 15/02/2001 (Agence Europe) - The Commission may open an inquiry into a possible anti-competitive understanding between the Italian insurance firm Generali, French AXA and German Allianz. This was announced by the spokesman for Commissioner Monti, responding to an interview by Generali Director Gianfranco Gutty with The Financial Times. The latter revealed the existence of an "informal non-aggression pact" between his group and his French and German counterparts. According to the article, this pact would prevent the three groups from practising "raids" on territories where one of the other two at least is present. It would also make it possible to strike a balance on different markets and would commit partners not to hamper the partnership agreements concluded in the banking and insurance banking sectors. "The Commission cannot but be troubled when reading this article", said Ms Torres, adding that it would no doubt be necessary to "put some questions" to those concerned even though there is no formal inquiry to date. The main question is that of knowing whether an agreement for sharing the market did in fact exist, which would run counter to European competition rules. Reacting to these remarks, Generali's director categorically denied the existence of an agreement of this kind. He said that his remarks had been interpreted wrongly. In his view, it is a "de facto situation" that is not based on anything formal. In the same way, AXA denied the existence of such a pact while Allianz did not comment. The Commission has already sent a letter to Generali in which it calls for explanations concerning the content and the aim of the partnership in question.