Signage for the FCA (Financial Conduct Authority), the Britain's financial regulatory body, is seen at their head offices in London, Britain March 10, 2022.
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - British insurer Direct Line (DLGD.L) has agreed to review overcharging of existing home and motor customers totalling about 30 million pounds ($38 million) for policy renewals, the Financial Conduct Authority (FCA) said on Friday.
"Direct Line Group will carry out a review to identify all instances where a customer has been overcharged and provide appropriate redress," the FCA said in a statement.
"As a result, those customers have paid a renewal price higher than they should have," Direct Line said.
Earlier this week, Direct Line named a new CEO as it seeks to reset after profit fell by 95% in 2022.
Persons:
Toby Melville, Huw Jones, David Goodman, David Evans
Organizations:
FCA, Financial, Authority, REUTERS, British, Direct, Thomson
Locations:
London, Britain