FSCS pays out £160m for failed insurers in 2023/24
The Financial Services Compensation Scheme paid out £423m in compensation to customers during 2023/24, with £160m of that going to customers of failed insurers – less than it had predicted.
In November last year, the scheme said it anticipated making insurance payments in the region of £171m.
“This decrease is predominantly driven by lower compensation payments for legacy failures, as
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