The Financial Services Authority (FSA) has fined Winterthur Life £500,000, plus £57,000 costs, for mis-selling mortgage endowment policies between March 1998 and December 1999.
The FSA said Winterthur was in the process of contacting the 10,000 customers that have been affected by the mis-selling and that it had put aside £10m for redress.
Winterthur withdrew from the endowment market in July last year.
Winterthur has established a helpline for policyholders: 0800 138 0290.
It is open from Monday to Friday between 9am and 5pm.
