Address: Zurich Assurance Ltd
UK Life Centre
Station Road
Swindon
SN1 1EL
"Allied Dunbar is a trading name of the Zurich Financial Services Group and its subsidiary companies Allied Dunbar Assurance plc and Dunbar Bank plc.
Over the period May 2001 to April 2003, a portion of the nearly 300,000 Allied Dunbar customers who had been sold endowment mortgages made complaints. These complaints were prompted by a fall in the market (which meant that nearly nine in ten of their accounts were likely to suffer shortfalls) as well as new regulations which required that customers be notified semi-annually of the projected earnings of the endowment, with particular regard to such shortfalls.
Around 1,000 such complaints were rejected during the above period. The Financial Services Authority investigated the rejected complaints, as well as Allied Dunbar's procedures for handling such complaints, and while maintaining a majority of them, it fined the company £725,000 on 11 March 2004 for mishandling such complaints.
Allied Dunbar stopped writing endowment mortgages in November 2001.["