Market reacts to providers’ job cuts

redundancy

Up to 50 broker-facing roles at Zurich are set to go as the insurer plans to shed 440 jobs from its UK general insurance business.

The announcement followed closely after the provider reported a 48% fall in operating profit for the third quarter of 2015.

According to Zurich it is aiming to reduce its costs by at least £40m over the next two years, simplify its operating structure and become more efficient in its commercial broker division.

There were differing reactions from brokers as to what t