Search and seizure operations at eight major life insurance groups this week by SA’s top antitrust watchdog surprised the market with doubts raised by analysts about it being able to uncover any collusive behaviour in what is considered a highly competitive industry.

In a move that sent shock waves through the life insurance sector, the Competition Commission said on Thursday it had raided the premises of Old Mutual Insure, Hollard, Sanlam, Bidvest Life, Discovery, the Professional Provident Society (PPS), Momentum Metropolitan and BrightRock...

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