The Financial Conduct Authority (FCA) has officially closed its investigation into Police Mutual - one of six insurers the regulator referred to its enforcement division last year after it found problems with the way they treated their closed-book life insurance clients.
The investigations into the other five - Abbey Life, Countrywide Assured, Old Mutual, Prudential and Scottish Widows - were continuing, the FCA confirmed. The investigation into Police Mutual had been closed with no further action, it added, before stressing it had reached no decisions regarding the other firms at this stage. In a statement, the regulator said: "No inferences should be drawn from the closure of the Police Mutual case concerning the continuing investigations. The FCA will update the market when decisions are made regarding the status of the remaining investigations." I...
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