Lloyds and Barclays to set aside further funds for compensation

barclays

This week, Lloyds and Barclays are expected to set aside hundreds of millions of pounds in additional reserves to compensate for mis-selling payment protection insurance (PPI), according to the Mail on Sunday.

Lloyds Banking Group is expected to ring-fence a further £250m, while Barclays is set to take a fresh hit of £200m.

In total, the UK’s big four banks – Lloyds, Barclays, HSBC and RBS – have so far had to set aside £13.2bn to repay customers mis-sold PPI policies.

Figures from the Financial Conduct Authority show that PPI payouts have been on the rise. Banks paid out more than £420m in compensation in both April and May, up from £375m in March and £409m in February.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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