Royal & Sun Alliance Insurance Group PLC is going to be penalised by the Financial Services Authority (FSA) as part of an on-going review on mis-sold pensions, according to reports in The Financial Times.
A spokesman for the insurer said: "We have been advised that we'll be fined for some aspects of the administration of the review."
However, the company has assured shareholders that any fines will "not be material" enough to impact its results.
Under the FSA's review, insurers were required to identify and compensate people claiming they were wrongly sold personal pensions between April 1988 and June 1994.
Since the beginning of the review, the FSA has taken disciplinary action against 345 firms, resulting in fines totalling about £10m.
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.
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.
