Sanlam confident competition body’s raid will not turn up anything untoward
Sanlam is weighing up its options after the Competition Commission raided its offices in August and believes the competition watchdog will find none of its processes are “problematic”.
The Competition Commission said on August 25 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) over alleged collusive behaviour that included fixing of investment product fees and premiums for dread disease and life cover, and allegedly contravening the Competition Act...
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