Old Mutual Short-Term Insurance Company (OMSIC)

Staff Writer Old Mutual Short-Term Insurance Company (OMSIC) has become the latest short term insurer to have entered into settlement agreement with the Namibian Competition Commission over price fixing. The short term insurance giant together with six other major short term insurance companies were investigated and found to have been involved in collusive behaviour. The insurance companies are Santam Namibia, Alexander Forbes Insurance Company, Hollard Insurance Company, Old Mutual Short-Term Insurance Company, Outsurance Insurance Company of Namibia, Phoenix Assurance Namibia and Momentum Short-Term Insurance. Santam and Hollard have admitted already in 2019 that they engaged in ‘’unintended contravention’’ of the…