Lloyds Bank announces insurance division redundancies
The bank is cutting 930 jobs across the business in a move that will impact 24 insurance staff.
Lloyds has announced that 930 jobs are going to be cut across the business in a move that will affect its insurance division.
Thomson Reuters reported on Monday (5 February) that the job losses will also affect its commercial bank, chief information office, risk, community banking and wealth units.
The report noted that in addition to the redundancies 465 new jobs will be developed meaning a net staff reduction of 465.
A Lloyds spokesperson told Insurance Age that the decision impacts 24
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on People
JMG appoints two leaders in widened structure after recent PE investment
JMG Group has created two new leadership roles, naming Jake Fox CEO of underwriting and speciality, and Neil Forrest CEO of retail.
End of Year Review 2025: Peach’s Ryan Bendelow
Ryan Bendelow, director of commercial at Peach, is sad to see the RSA name consigned to the insurance brand graveyard, nominates Aviva’s Michelle Taylor as the insurance personality of the year, and is worried about an increase in IPT in 2026.
Partners& hires managing partner to wellbeing division
Partners& has hired Tom Klinkenberg from Lockton as managing partner of wellbeing, health and protection.
Ex-broker/MP Tracey, CII and university team up on insurance talent pilot
Former MP Craig Tracey will lead a project for the Chartered Insurance Institute as it joins forces with Birmingham City University Business School to launch a 12-month pilot programme designed to strengthen the talent pipeline into the insurance profession.
End of Year Review 2025: nCino’s Ashleigh Gwilliam
Ashleigh Gwilliam, director of insurance at nCino calls for more to be done to make insurance careers genuinely attractive to young talent and predicts AI will be handling first-pass underwriting decisions on at least 30% of SME commercial risks by the end of next year.
End of Year Review 2025: Corin Underwriting’s Andy Hurrell
Corin Underwriting CEO Andy Hurrell outlines the view a softening market rewards discipline; raises an eyebrow about the number of MGAs doubling down on scale over specialism; and advises rather than reacting to the crowd, back your underwriting judgement.
End of Year Review 2025: Gambit Insurance Solutions’ Ajay Mistry
Founder and director of Gambit Insurance Solutions and co-Chair of iCAN Ajay Mistry believes small brokers need to be more assertive in the soft market and predicts at least one insurer will launch a product in which over 80% of the commercial underwriting workflow is transparently AI-driven.
Hockey named Ecclesiastical director of schemes and partnerships as Withers leaves
Ecclesiastical has hired David Hockey as director of schemes and partnerships, as Chris Withers steps down.