Not upheld: Other regulated complaint complaint against Maiden Life Försäkrings AB, UK Branch

Decision detail

Summary

Mr M, Mrs B and Ms B complained that Maiden Life Försäkrings AB unfairly withdrew their Family Protection Plan from the market, ending their cover on 30 November 2025. The complainants had been members of the group policy (held by a credit union) for many years. Maiden Life provided notice of its UK market withdrawal in May 2024 and extended the original end date to allow additional time to find alternative cover. The ombudsman found that Maiden Life was entitled to exercise its commercial discretion to withdraw, had complied with the 30-day notice requirement in the policy terms, and had not treated the complainants unfairly or unreasonably.

The Ombudsman's reasoning

The ombudsman found that Maiden Life was entitled to exercise its legitimate commercial discretion to withdraw from the UK market. The policy terms formed the basis of the contract between the credit union (policyholder) and Maiden Life, and Maiden Life provided significantly more than the required 30 days' notice. The policy was structured as a monthly renewable product, not lifetime or fixed-term cover, so long-standing membership did not create an obligation for continued provision. The ombudsman noted that alternative insurance costs and credit union communication were not Maiden Life's responsibility.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website