03 Sep 2022

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Consumers' Robin Hood: Competition Commissioner bows out with dramatic insurance raids

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Londiwe Buthelezi
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Outgoing Commissioner Tembinkosi Bonakele launched one of the Competition Commission's most daring cases, raiding eight life insurers, days before the end of his term.
Outgoing Commissioner Tembinkosi Bonakele launched one of the Competition Commission's most daring cases, raiding eight life insurers, days before the end of his term.
Competition Commission

Tembinkosi Bonakele publicly launched one of the Competition Commission's most daring cases just days before he was due to exit as head of that office. The commission raided the premises of eight life insurers, including all but one of the sector's JSE-listed giants, Liberty, and they stand accused of sharing pricing information and passcodes to access each other's systems so that they would align their prices.

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