The average cost of claims over the past quarter has not declined as expected
RBS has set aside £465m to cover the cost of mis-selling payment protection insurance.
The bank said that the average cost of claims it dealt with in Q4 2013 has continued at previous rates of £225m per quarter rather than declining as expected. The claims are now expected to continue for a longer period.
This move follows a decision by the board late yesterday to set aside more than £3bn to cover various claims and conduct-related matters.
The expected payouts include £1.9bn for mortgage-backed financial products in America and £500m for the mis-selling of interest rate swaps.
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.
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