- Insurance Newslink drops in for a Guidewire update
- LMA says 80% of Lloyd’s managing agents would “like to see Insurance Linked Securities (ILS) products become a permanent fixture in the re/insurance market”
- PPL exceeds first quarter adoption targets
- esure Board reaches agreement with Bain Capital over all cash offer-interim profit impacted by adverse weather but growth continues
- Admiral produces strong interim result and growth all round
- CII and FCA launching series of nationwide professional focus CPD conferences for members working in the insurance profession
- Insurance Europe publishes response to the European Commission’s consultation on its proposed InvestEU programme expired
- Tremor Technologies announces that its programmatic risk placement marketplace is fully operational with significant buyers and sellers of re/insurance protection in place expired
- Continental General(CGIC) to acquire Humana’s long-term care insurance business, KMG America Corporation expired
- Talanx Chairman Leue "very satisfied" at half way expired
- SOBC DARAG forms joint venture in US-first acquisition announced expired
- Starstone announces a new casualty consortium targeted at the Australian and New Zealand markets expired
13th June 2018
FCA concludes Scottish Widows thematic review into the fair treatment of longstanding customers
On 3rd March 2016, the Financial Conduct Authority (FCA) announced investigations into six firms as a result of its thematic review into the fair treatment of longstanding customers.
The FCA has announced that the investigation into Scottish Widows has concluded and there is insufficient basis for taking any enforcement action. The FCA will be raising a number of issues uncovered as part of the investigation with the firm in its supervisory engagement.
The investigations into Prudential, Countrywide Assured, Old Mutual and Abbey Life are continuing and no decisions regarding these firms have been reached by the FCA at this stage. No inferences should be drawn from the closure of the Scottish Widows case concerning the continuing investigations. The FCA will update the market when decisions are made regarding the status of the remaining investigations.
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