A 1.27 million USD fine levied on several insurance companies in 2016

The Namibian Competition Commission levied penalties on several insurance companies in 2016. These fines amounted to 17.7 million NAD (1.27 million USD).

Having failed to comply with the competition code, Professional Provident Society Insurance South Africa, Professional Provident Society Ins. Namibia, Sanlam Life Namibia and Sanlam Namibia had to settle an overall fine of 15 million NAD (1 million USD).

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