FOS H2 2019 complaints data analysis overview
Banks and Building Societies
- The number of new cases for this sector fell to 65,863 for H2 2019. This was a decrease of over 11,000 new cases since H1 2019.
- In terms of uphold rates, there was a decrease of 1% on the sector average compared to H1 2019.
- Of the 5 firms with the highest number of new cases across all sectors in H2 2019, 4 of them were banks.
Retail Lending
- The retail lending sector saw a slight decrease in the number of new cases from 36,998 for H1 2019 to 34,976 for H2 2019.
- This sector saw the highest uphold rate across all sectors for this period at 44.8%. This was an increase of 1.5% compared to H1 2019.
- For the 10 firms that had the highest FOS uphold rate, 90% of them were within the retail lending sector.
General Insurers and Protection
- The number of new cases for this sector fell by just over 5,000 to 24,948 in H2 2019. This sector reported the third highest number of new cases for H2 2019.
- For the sector average in terms of uphold rates, it fell by 2.1% to 28.1% for H2 2019.
- One general insurer featured in the 5 firms with the highest number of new cases for the period.
Investment and Asset Management
- This sector saw the biggest decrease between H1 and H2 2019 in the average uphold rate. It dropped from 38.9% to 33.3%.
- The highest number of new cases for a single firm in this sector totalled 238 – quite a difference from the firms in other sectors who reported the highest number of new cases for the period.
- There were 2 firms in this sector that reported an uphold rate just over 50%.
Pensions and Retirement Income
- The number of new cases in this sector decreased very slightly between H1 2019 and H2 2019.
- However, the average uphold rate increased by 3.1% between H1 2019 and H2 2019. This was the biggest increase between the two periods for any of the sectors.
- The highest number of new cases reported by a single firm was 605 while the highest uphold rate was 46%.
*This analysis is constructed using Huntswood firm classification based on primary business activity and is worked on a best endeavours basis