Insurance jobs safe in Ipswich

JOBS at the Ipswich branch of Royal & Sun Alliance are safe despite the company announcing plans to axe 1,200 staff.The insurance company announced on Thursday that its shares had slumped by more than 20 per cent and was shrinking its UK life business, but Ipswich may actually gain staff in the change aroundPR Manager Mike Wallwork said: "Most of the jobs will be going from three areas and we will expect to redeploy members of our sales force in other parts of the country, which could include Ipswich.

JOBS at the Ipswich branch of Royal & Sun Alliance are safe despite the company announcing plans to axe 1,200 staff nationally.

The insurance company announced on Thursday that its shares had slumped by more than 20 per cent and was shrinking its UK life business, but Ipswich may actually gain staff in the change around.

PR Manager Mike Wallwork, said: "Most of the jobs will be going from three areas and we will expect to redeploy members of our sales force in other parts of the country, which could include Ipswich."

The job cuts follow the group's decision to close its UK life operations to new business in order to save cash and concentrate on more profitable general insurance.


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Its UK life business will now drop from 2,500 staff to 1,300 over the next 18 months.

Of these, 520 jobs will go in Bristol, 250 in Liverpool and 200 in Horsham, West Sussex while the remaining 230 jobs will go from its sales force across the UK.

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The announcement came as the group reported sharply lower profits, after an unexpected £66 million hit relating to claims from the September 11 terrorist attack on the World Trade Centre.

It's operating profit for the six months to June 30 slid to £301 million from £366 million previously.

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