Windhoek, Sept. 1 – Old Mutual Short-Term Insurance Company (Namibia) Limited (OMSIC), has entered into settlement agreements with the Namibian Competition Commission (Commission) effective 10 August 2022, to resolve litigation in respect of two High Court claims instituted by the Commission against OMSIC.
OMSIC has followed all legal procedures as set out in the Competition Act and has fully cooperated with the Commission throughout its investigations. Due consideration having been had to the potential outcomes in these matters, OMSIC believes that settling the matters outside of court proceedings is in the best interest of all stakeholders.
As a responsible business always acting in the best interest of our customers, we remain committed to ensuring good governance, whilst strengthening our processes with an increased focus on our customers, our environment, and the communities in which we operate. OMSIC has further committed to following the subsequent procedures as set out in the Competition Act.