Co-op Insurance reacts to job loss fears

Last week, the Co-op group confirmed it intends to sell its GI business amid falling profits and a deteriorating combined operating ratio. 

Although the insurance arm employs some 1,200 people, it insisted that "no staff are currently affected".

In a statement, the group confirmed to Insurance Age: "In seeking a buyer for the GI business, we will work hard to ensure we retain jobs in the North West and other areas in which we operate to minimise redundancies as we would in any deal of this