Lloyds’ PPI Compensation Bill Rises By An Additional £700m

The Lloyds Banking Group continues to face the consequences of misselling of PPI policies. The bank recently announced that it was setting aside an additional sum of £700 million towards settlement of claims filed by the victims. As on date, the bank has set aside more than £4.2 billion to compensate victims of missold policies. Analysts were of the opinion that bank would have to set aside an additional sum of £375 million. However, Continue reading

PPI Misselling – Two Lloyds Companies Transferred To London Based Companies

The impact of misselling of payment protection insurance is beginning to show not only on the profits of the Lloyds banking group but also the internal setup of its subsidiary companies. The insurance businesses of Halifax Insurance Ireland Ltd and Halifax Assurance Ireland Ltd are being transferred to St Andrews Insurance plc and St Andrews Life Assurance plc. The asset and liabilities of the companies are being completely Continue reading