Barclays profits have been hit by a previously announced £1bn provision for compensating customers mis-sold payment protection insurance.

The banking giant’s half year results, announced this morning, show a profit of £2.6bn, down 33% compared to this time last year. Pre-tax profits in Barclay’s retail and business banking division fell 63% to £446 million, which included the PPI hit.

Barclays announced in May that it was providing £1bn to compensate customers mis-sold PPI following the British Bankers Association’s decision to drop its legal challenge of the way the FSA and the Financial Ombudsman Service were handling such claims.

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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