Hibernian pays €120,000 to churned investors

IRELAND'S largest insurance group Hibernian has paid out €120,000 in compensation to 27 policyholders who were inveigled by a broker in the mid-west into transferring business from a competing life office, incurring extra charges on the way. The transfer was effected through "a false tied agency" operated between '94 and '98 which came to light in March following a customer's complaint.

Click to expand...