Quinn Emanuel prevails in major case against Santander obtaining £675 m award for client AXA

Today the High Court handed down judgment in favour of AXA France IARD and AXA France VIE (“AXA France”) in their long running dispute with Santander Cards UK Ltd (“SCL”) and Santander Insurance Services UK Limited (“SISUK”) (together “Santander”).

The dispute concerns losses AXA France incurred in respect of mis-selling complaints regarding PPI policies before 14 January 2005. The policies were underwritten by AXA France and sold by GE Capital Bank Limited, which was acquired by Santander in 2008 and subsequently renamed SCL, between the 1970s and January 2005. AXA France argued and the Court found that SISUK must indemnify AXA France for all consumer redress and fees paid to the Financial Ombudsman Service arising from the mis-selling complaints.

The indemnity in question was in an agency agreement between the AXA France and SCL dated 1 December 2000. A key question for the Court was whether the indemnity applied to PPI policies sold before 1 December 2000. AXA France argued that on a proper reading of the agency agreement it did, and the Court has found that it does resulting in AXA France being entitled to recover all redress and FOS fees for the Policies which exceed 600,000 in total.

AXA France issued its claim in 2021 and trial was heard in March and April 2025. The judgment represents a huge vindication of AXA France’s commitment over more than a decade to recover losses rightfully owed to it by Santander.