FSCS paid out £134 million last year to clients of failed insurers

According to its annual report, the FSCS processed nearly 12,000 claims linked to investments, pensions, and mis-sold financial advice, resulting in payouts amounting to £176 million. A further £134 million was disbursed to policyholders of collapsed insurers, while £17 million was paid to members of failed credit unions, reflecting a broad spread of exposures across the financial services sector.

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