Freedom Insurance is unsure when it can announce details of its financial status and has asked for its shares to be suspended on the Australian Securities Exchange “pending such an announcement”.

Late last year the life insurer announced it would set aside an initial $3-4 million for a customer compensation program following a strategic review.

Freedom axed phone sales for term life and trauma products and halted new sales during the review, as it weighed its options.

The company has drawn heavy criticism for high-pressure sales tactics that were exposed at the Hayne royal commission.