Santander gana el recurso contra el pago de 800 millones a AXA por los PPI en Reino Unido
El banco destaca que la aseguradora francesa deberá reembolsar la mayoría de las cantidades ya abonadas. Leer
Spanish bank Santander has secured a favorable ruling from the UK Court of Appeal, overturning a significant portion of the financial impact of its 2025 decision to pay AXA £800 million ($1.03 billion) for Protection Insurance (PPI) mis-selling. Santander argues that French insurer AXA must reimburse the majority of the amounts already paid, including interest and costs.
The dispute began in 2017 over responsibilities for indemnities and costs related to a PPI portfolio. The case involved two subsidiary companies: Santander Cards UK and Santander Insurance Services UK. Initially, Santander UK agreed to process AXA's claims on behalf of the insurer, but the agreement was terminated in December 2020, and AXA demanded immediate repayment for losses from pre-2005 PPI policies.
After further negotiations, AXA reduced its claim to £552 million ($714 million) in 2023. Santander has consistently denied responsibility for the losses.
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