Winterthur Life sets aside £10 m to redress customers


LONDON -- Mortgage and life assurance firm Winterthur Life UK has had to set aside around £10 million ($14.7 million) for redressing customers to whom it mis-sold mortgage endowment policies, the UK Personal Investment Authority (PIA) said in September.

Around 10,000 customers of Winterthur may be affected by the mis-selling.

Winterthur was fined £500,000 plus £57,000 costs for rule breaches that resulted in the mis-selling, the PIA said. The PIA regulates the personal investment market under the

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