Category: Life Insurance

90 jobs across Zurich's UK life operations put at risk

Monday, July 28, 2014


Zurich plans to make 90 redundancies from its UK life business as part of cost cutting measures in light of the challenging economic environment.

The global insurance firm said the job cuts would come from senior management, finance, legal, risk, compliance, operations and marketing.
The company said the move was part of a wider group restructure of the business - designed to deliver greater efficiencies while remaining competitive.
Zurich Global Life Europe chief executive and interim CEO for UK life David Sims said it was always hard to make redundancies but the uncertain economic outlook meant changes had to be made.

He said: "This enables us to remain competitive and flexible so that we can meet the changing needs of our customers and distributors and provide them with the products and services they need.

"And it's important to emphasise that our overall strategy is about adapting to changing market needs. So over time, while there are role reductions in some areas there will be recruitment in others to reflect the requirement for a changing skill mix within our workforce."

Zurich said it had notified the people whose jobs may be affected that their roles are at risk of redundancy and will now enter into a 30-day consultation process.


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