Market reacts to providers’ job cuts
Mixed response from brokers to news of redundancies at Zurich and AIG
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
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