US EditionAXA wins $908 million UK court ruling against Santander over protection insurance
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AXA wins $908 million UK court ruling against Santander over protection insurance
French insurer AXA won a London court ruling on Friday worth nearly 675 million pounds ($908 million) against Santander over the mis-selling of payment protection insurance more than two decades ago.
Market Consensus Alphavalue/Divacons A British court sentenced Santander on Friday to pay GBP 515.5 million to AXA. This judgment is part of the litigation that the bank and insurer have held for years over the marketing of payment protection insurance (PPI) in the United Kingdom.
The French insurer has won an important victory in the legal battle between Axa and the Spanish bank Santander for unfairly sold residual debt insurance. The High Court in London granted the company a compensation of about 675 million pounds (774 million euros). The contribution After years of dispute with bank house Santander: British court speaks Axa 675 million pounds to first appeared on insurance business today.
Banco Santander will have to pay out to AXA 515.5 million pounds, an amount equivalent to 590.5 million euros. The reason is a judgment issued by a British court in the context of the judicial conflict that the financial institution and the insurer have maintained for some years for the marketing of payment protection insurance (PPI) in the country. The amount to be paid by the bank presided over by Ana Botín results from the sum of two claims, …
A British court has sentenced Santander to pay 515.5 million pounds (590.5 million euros) to AXA, in the litigation that the bank and insurance company have had for the past...
According to the British court, the main Spanish bank will have to pay Axa France around £683 million (€782 million) and it has decided to appeal.
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