Eight insurers raided for suspected collusion on fees and premiums
The Competition Commission says it seized documents and electronic data from life insurers over alleged fixing of investment fees and insurance premiums
25 August 2022 - 15:56
UPDATED 25 August 2022 - 22:52
The Competition Commission has raided the offices of eight of SA’s most prominent life insurers over alleged collusive behaviour that included fixing of investment product fees and premiums for dread disease and life cover.
The competition watchdog said on Thursday that it was conducting search-and-seizure operations at the offices of Sanlam, Old Mutual Insure, Hollard, BrightRock, Bidvest Life, Momentum Metropolitan, Discovery and PPS (the Professional Provident Society) for allegedly contravening the Competition Act...
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