AXA Blames Genworth For Misselling Claims At £265M Trial

Law360, London (November 4, 2019, 2:28 PM GMT) -- AXA told a London court on Monday that Genworth Financial Inc. is on the hook for more than £265 million ($342 million) that the French insurer has paid out to settle compensation claims over a controversial insurance product.

France's AXA wants U.S. insurer Genworth Financial to cough up $342 million for payments made on behalf of Spanish lender Santander over wrongly sold payment protection insurance. (AP) On the first day of a high-profile court battle between the rivals, AXA SA's lawyer read aloud internal reports that he said showed that Genworth, an American insurance company, was not capable of handling the...

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