Protection challenger Guardian has cut 12 jobs, which it attributed to its faster than expected success.
The company has not specified which roles have been affected but confirmed a consultation could lead to further cuts.
Guardian said in a statement: “The number of major distribution agreements we’ve secured in our first nine months of trading is an acceleration of our original business plan. With this rapid take-up, there has been an associated increase in onboarding and servicing requirements, so we’ve refocused the team to meet these new objectives.
“We’ve been recruiting into operations and underwriting, however because we are still a new entrant, to do this cost effectively, a small number of roles have been made redundant or are in consultation.
“These people changes reflect our new priority, which is to seamlessly onboard Guardian with each distributor and ensure a high level of service.
“Twelve roles have been made redundant and a small number of others are in consultation.”
Guardian chief chairman Peter Mann says: “We’ve been delighted by the market reaction to Guardian and the impressive number of strategic distribution agreements we’ve achieved. Because of this distribution success we are refocusing the team on what is now our top priority: a period of intense onboarding.”
The news follows the promotion of Guardian’s former chief operation officer Katya MacLean to interim chief executive. Incumbent chief executive Simon Davis is taking an extended sabbatical for personal reasons.