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Release Date: 8th July 2021

To access the original FCA document, click here.


Lloyds Bank General Insurance Limited, St Andrew’s Insurance Plc, Lloyds Bank Insurance Services Limited, and Halifax General Insurance Services Limited (collectively “LBGI”) have been fined £90,688,400 by the Financial Conduct Authority (FCA) for breaches of regulatory principles related to the communication of home insurance renewals. The fine would have been £129,554,914 if not for a 30% settlement discount. The breaches occurred between January 1, 2009, and November 19, 2017.

Reasons for the Fine

Key Takeaways for Other Firms


The significant fine imposed on LBGI highlights the importance of clear, fair, and transparent communication with customers. Other firms must take heed and ensure that their communications and processes are robust and compliant to avoid similar regulatory actions. The case serves as a critical reminder of the need for continuous improvement in customer engagement practices and compliance standards.

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