Financial provider Canada Life is to sell its individual onshore protection business to Countrywide Assured, a division of consolidator Chesnara Plc, for an undisclosed sum.

The FCA has dropped its investigation into Scottish Widows undertaken as part of its long-running thematic review of the fair treatment of longstanding customers in the life insurance sector.

The FCA has closed its investigation into Police Mutual’s fair treatment of long term customers and said no further action will be taken but probes into five other insurers will continue.