trending Market Intelligence /marketintelligence/en/news-insights/trending/7_tijt_v0yjdqdqdqbfpda2 content esgSubNav
In This List

Aviva to compensate pension customers hit by IT issues

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

Expand Your Perspective: Data & Distribution Q&A

Podcast

Street Talk | Episode 90: Banks should not wait on the Fed to put cash to work


Aviva to compensate pension customers hit by IT issues

Aviva PLC will compensate thousands of customers affected by a technical glitch on one of its pension platforms, Reuters reported May 16, citing a spokesman for the British insurer.

The spokesman said 3% of some 200,000 customers that use the platform have faced payment delays and other issues resulting from a botched technology update.

The news comes after Aviva pledged to offer £14 million in compensation to shareholders who had sold preference shares issued by the company before it withdrew intentions to cancel such shares.

The U.K. Financial Conduct Authority is reviewing the insurer's treatment of its preference share customers, which could result in a formal investigation.