Competition Commission swoops on price fixing insurance companies - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Competition Commission says the country’s laws prohibit competitors from sharing sensitive information which could manipulate insurance prices.

[File Image] The Sanlam sign board is seen in this picture. Sanlam is among the eight companies raided by the Competition Commission.[File Image] The Sanlam sign board is seen in this picture. Sanlam is among the eight companies raided by the Competition Commission.

The commission conducted search and seizure operations on Thursday, at the premises of eight insurance companies including Old Mutual, Brightrock, Discovery, Hollard, and Sanlam. The Commission’s spokesperson Sipho Ngwema says the search and seizure operations are part of an ongoing investigation that was initiated in January 2021.

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