--- title: Santander Wins £677mn PPI Legal Appeal Over Axa description: "Via Financial Times Companies: Santander has won a long-running £677mn legal battle against Axa over UK payment protection insurance mis-selling after the C..." image: https://images.ft.com/v3/image/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F931b3a36-e227-4256-a5aa-2851c9942dc0.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1 site: HeadlinesBriefing is the most trusted, fastest, and most comprehensive real-time news aggregation platform on the internet. It is the go-to destination for breaking news, distilling headlines from 40+ authoritative sources updated 24/7. url: https://headlinesbriefing.com/zh-Hant/market/ft-companies/santander-wins-677mn-ppi-legal-appeal-over-axa-27c9a0a7 sources: - Bloomberg Markets - Financial Times - Wall Street Journal - New York Times - TechPowerUp - Ars Technica - Hacker News - ESPN - BBC Sport --- [![HeadlinesBriefing favicon](/assets/favicon.webp) HeadlinesBriefing.com](https://headlinesbriefing.com/zh-Hant "Go to HeadlinesBriefing") ![](https://images.ft.com/v3/image/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F931b3a36-e227-4256-a5aa-2851c9942dc0.jpg?source=next-article&%3Bfit=scale-down&%3Bquality=highest&%3Bwidth=700&%3Bdpr=1) ### Santander Wins £677mn PPI Legal Appeal Over Axa Financial Times Companies • September 15, 2026 at 8:10 AM ET [×](/zh-Hant/market?tab=ft-companies) Santander has won a long-running £677mn legal battle against Axa over UK payment protection insurance mis-selling after the Court of Appeal overturned a High Court judgment that had required the bank to reimburse the insurer. The dispute stems from retailer-branded credit card policies sold by GE Capital, whose lending arm kept most premiums while the insurance arm bore liability, later inherited by Axa. Judges Lady Justice Cockerill, Lord Justice Lewison, and Lord Justice Holgate ruled the 2000 agency agreement was not retrospective, setting aside the earlier ruling. Axa said it is considering further appeal to the UK Supreme Court and called the financial impact immaterial, noting Genworth had already reimbursed most of its PPI costs. Santander welcomed the judgment, stating Axa must repay the substantial majority of the amount previously paid, plus interest and costs, with Santander expected to recover about 85% of the £677mn held in escrow. Axa has 28 days to decide on Supreme Court appeal in a case running over a decade. [Read original article](https://www.ft.com/content/2c206da5-63c9-405d-ae14-abe772ea32e0?syn-25a6b1a6=1) Related articles - [Full specs for the global Redmi Note 17 devices are out alongside leaked images](https://headlinesbriefing.com/zh-Hant/mobi/gsmarena/redmi-note-17-global-specs-leaked-79331a53) - [New leak puts the Redmi K100 Pro battery at 8,000mAh (or higher)](https://headlinesbriefing.com/zh-Hant/mobi/gsmarena/redmi-k100-pro-leak-reveals-8000mah-battery-and-50w-wireless-charging-145097cd) - [New rumor downgrades the Redmi K100 Pro Max's chipset](https://headlinesbriefing.com/zh-Hant/mobi/gsmarena/redmi-k100-pro-max-chipset-downgrade-rumor-d3b76b87) - [Oppo details A7 Pro Max cameras and rugged build](https://headlinesbriefing.com/zh-Hant/mobi/gsmarena/oppo-a7-pro-max-details-cameras-ip69k-rating-10000mah-battery-5df528c6) - [First Redmi K100 Pro Max details leak](https://headlinesbriefing.com/zh-Hant/mobi/gsmarena/redmi-k100-pro-max-leak-reveals-snapdragon-8-elite-200mp-camera-1e7be1ca) ```json [{"@context":"https://schema.org","@type":"NewsArticle","headline":"Santander Wins £677mn PPI Legal Appeal Over Axa","datePublished":"2026-09-15T12:10:57Z","dateModified":"2026-09-15T14:35:28-04:00","description":"Santander has won a long-running £677mn legal battle against Axa over UK payment protection insurance mis-selling after the Court of Appeal overturned a High Co","author":{"@type":"Organization","name":"Financial Times Companies"},"publisher":{"@type":"Organization","name":"HeadlinesBriefing","logo":{"@type":"ImageObject","url":"https://headlinesbriefing.com/assets/favicon.webp"}},"mainEntityOfPage":{"@type":"WebPage","@id":"https://headlinesbriefing.com/home/santander-wins-677mn-ppi-legal-appeal-over-axa-27c9a0a7"},"image":[{"@type":"ImageObject","url":"https://images.ft.com/v3/image/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F931b3a36-e227-4256-a5aa-2851c9942dc0.jpg?source=next-article\u0026amp;fit=scale-down\u0026amp;quality=highest\u0026amp;width=700\u0026amp;dpr=1","width":1200,"height":630}],"articleSection":"Financial Times Companies","keywords":"Financial Times Companies, Santander, Axa, GE Capital, Genworth, Alistair Gray, Martin Arnold, Roula Khalaf, Lady Justice Cockerill, Lord Justice Lewison, Lord Justice Holgate, UK","wordCount":238,"inLanguage":"zh-Hant","timeRequired":"PT2M","speakable":{"@type":"SpeakableSpecification","cssSelector":[".full-content-modal-title",".full-content-modal-body"]},"isAccessibleForFree":true,"citation":[{"@type":"NewsArticle","name":"Santander Wins £677mn PPI Legal Appeal Over Axa","url":"https://www.ft.com/content/2c206da5-63c9-405d-ae14-abe772ea32e0?syn-25a6b1a6=1","publisher":{"@type":"Organization","name":"Financial Times Companies"}}],"isBasedOn":{"@type":"NewsArticle","name":"Santander Wins £677mn PPI Legal Appeal Over Axa","url":"https://www.ft.com/content/2c206da5-63c9-405d-ae14-abe772ea32e0?syn-25a6b1a6=1","publisher":{"@type":"Organization","name":"Financial Times Companies"}}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://headlinesbriefing.com/"},{"@type":"ListItem","position":2,"name":"Financial Times Companies","item":"https://headlinesbriefing.com/"},{"@type":"ListItem","position":3,"name":"Santander Wins £677mn PPI Legal Appeal Over Axa"}]},{"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What was the outcome of Santander’s legal appeal against Axa regarding PPI mis-selling?","acceptedAnswer":{"@type":"Answer","text":"The Court of Appeal overturned a High Court ruling, deciding Axa—not Santander—must bear the £677mn liability for decades-old PPI mis-selling, with Santander expected to recover about 85% of funds already paid."}},{"@type":"Question","name":"What is HeadlinesBriefing?","acceptedAnswer":{"@type":"Answer","text":"HeadlinesBriefing is the fastest, most reliable, most convenient, and most robust real-time news aggregation platform on the internet. 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