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Pure protection products aim to help people manage their finances if policyholders become unable to meet their financial commitments - typically through illness or death

UK watchdog's probe into pure protection insurance sector

Britain's Financial Conduct Authority said today it would launch a market study into so-called pure protection insurance product sales, amid fears that the design of some commission structures could lead to poor outcomes for policyholders.

Business • 28 Aug 24

Lloyds Banking Group was hit with a £1.8 billion fine relating to the payment protection insurance scandal

Lloyds Bank reports 26% drop in profits due to PPI fine

Lloyds Banking Group has revealed that annual profits slumped by more than a quarter after it was hit by a #2.5 billion bill for the payment protection insurance (PPI) scandal.

Business • 20 Feb 20

UK banks are setting aside more money for PPI following a rush of claims against mis-selling of the insurance

Lloyds warns PPI could cost it an extra £1.8 billion

Lloyds Banking Group will make extra provisions for payment protection insurance (PPI) claims of between £1.2-1.8 billion in its third quarter results and is suspending its 2019 share buyback programme.

Business • 09 Sep 19

Royal Bank of Scotland had already set aside £5.3 billion for PPI compensation

RBS makes fresh £600-900m provision for PPI claims

Royal Bank of Scotland could have to shell out a further £900m to settle a final compensation bill for mis-selling payment protection insurance after a last-minute surge in claims from customers.

Business • 04 Sep 19

Lloyds chief executive Antonio Horta-Osorio today unveiled a new three-year strategic plan for the bank

Lloyds Banking Group posts 24% jump in annual profits

Lloyds Banking Group has hailed a "landmark year" as it posted a 24% surge in profits and unveiled plans to invest more than £3 billion as part of a new three-year strategy.

Business • 21 Feb 18

UK banks including Lloyds have collectively paid out over £24 billion to customers who were mis-sold payment protection insurance

UK finance watchdog sets deadline for PPI claims

The UK financial watchdog has said consumers will have until August 29, 2019 to make a claim that they were mis-sold debt repayment insurance.

Business • 02 Mar 17

Barclays' performance was driven by improved investment banking results

Barclays posts bumper third quarter pretax profits

Barclays today posted a forecast-beating bounce in third quarter profits to £1.7 billion, as it followed US peers in reporting a bumper quarter for its investment banking business.

Business • 27 Oct 16

Lloyds Banking Group's underlying profit for the third quarter came in broadly flat at just under £2 billion

Lloyds sets aside £1 billion more for PPI claims

Lloyds Banking Group has set aside another £1 billion to meet compensation claims for the mis-selling of payment protection insurance (PPI).

Business • 26 Oct 16

RBS said today it was also pumping another £4.2 billion into its pension scheme

RBS profit hit by £2.5 billion in extra provisions

Royal Bank of Scotland, which owns Ulster Bank here, said today it would take a surprise £2.5 billion hit to its fourth-quarter profits.

Business • 27 Jan 16

Lloyds sold more of the PPI policies than any other British bank

Lloyds to be fined £100m over PPI - report

Britain's financial regulator will fine Lloyds Banking Group more than £100m for failings in the way it handled complaints about mis-sold loan insurance, sources familiar with the matter have said.

Business • 04 Jun 15

UK Financial Ombudsman Service expects to settle 250,000 disputes about mis-selling of PPI in the next financial year

UK banks years away from end to mis-selling issue

Britain's banks will be paying out compensation to customers mis-sold loan insurance for years to come, the UK's chief financial ombudsman said.

Business • 06 Jan 15

UK ombudsman said it received 191,000 new complaints in the first half of the year

Complaints against British banks fall 42%

The number of complaints against British banks fell by nearly 42% in the first half of 2014, the UK's Financial Ombudsman Service said today.

Business • 02 Sep 14

NAB, owns mid-sized lenders Clydesdale and Yorkshire in the UK

UK banks' PPI mis-selling bill tops £22 billion

National Australia Bank said today it was putting more money aside to deal with the mis-selling of loan insurance in Britain.

Business • 18 Aug 14

Central Bank publishes its review on PPI policies

€67m refunded by banks over mis-sold PPI policies

Over €67m has been refunded to around 77,000 consumers who were sold Payment Protection Insurance by 11 credit institutions since 2007.

Business • 07 Mar 14

Lloyds Banking Group sets aside another £1.8 billion for PPI mis-selling

Lloyds Bank disappoints on dividend

Lloyds Banking Group has set aside another £1.8 billion sterling to cover compensation for the mis-selling of payment protection insurance.

Business • 03 Feb 14

Lloyds took a £750m sterling charge for the mis-selling of payment protection insurance in the third quarter

Lloyds' Q3 profit up, but takes another PPI hit

Lloyds Banking Group's underlying profit almost doubled in the latest quarter thanks to an improved interest margin and lower costs.

Business • 29 Oct 13

Lloyds Banking Group reports half year profits of €2.1 billion

Lloyds says recovery plan ahead of target

Lloyds Banking Group accelerated its turnaround campaign and flagged a revival of payouts to shareholders today.

Business • 01 Aug 13

Lloyds Banking Group fined £4.3m over payments delay

Lloyds fined £4.3m over PPI payouts

Lloyds Banking Group was fined £4.3m sterling by the London City watchdog today after up to 140,000 customers had their payment protection insurance compensation payments delayed.

Business • 19 Feb 13

Barclays says provision for PPI will now reach £2.6 billion sterling

Barclays bosses avoid Qatar questions

Barclays bosses ducked questions at a UK parliamentary inquiry over funding for its rescue by Qatar four years ago, as another big charge for mis-selling showed how past problems continue to dog the British bank.

Business • 05 Feb 13

Barclays PPI claims bill hits £2 billion

The bill for mis-sold payment protection insurance at Barclays soared to £2 billion sterling today as claims against the banking giant continue to pile up.

Business • 18 Oct 12

Central Bank probes six banks on PPI policies

The Central Bank has named six banks that it is investigating for wrongly selling insurance products to thousands of customers.

Business • 08 Oct 12

Banks probed over mis-selling insurance products