Analysts predict bank needs to set aside more cash

Lloyds Banking Group may have to add £2bn to its £4.3bn fund for compensating victims of mis-sold payment protection insurance (PPI), according to analysts.

Last week Barclays increased its own PPI fund from £1.3bn to £2bn. But JP Morgan Cazenove analysts said that Lloyds held 40%-45% of the PPI market, so may need to increase its own compensation pot by £2bn, according to Reuters.

Investec analyst Ian Gordon and Shore capital analyst Gary Greenwood said Lloyds could have to set aside a further £2.3bn to meet its PPI liabilities.

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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