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Britannia argues that it isn&#39t facing £250,000 fine

Britannia Life is denying that it is about to be fined £250,000 by the PIA for misselling pensions.


The company has spoken out following Royal & Sun Alliance&#39s confirmation that they are being fined £225,000 by the PIA.


The firm recently found over 1,000 potential cases which were not initially discovered as part of the PIA&#39s review, but says it is working hard to find policyholders who may have been wrongly advised and it is far from certain that it will be financially penalised.


It says that the new cases have arisen as a result of the various take-overs in which it has been involved.

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