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NU cuts 2,350 jobs in India move

Norwich Union is axing 2,350 jobs from its UK operation as it moves call centre and back office administration functions to India where 22,500 new jobs will be created.

NU expects the majority of the job losses to be made up of voluntary redundancies, redeployment and staff turnover but says around 500 staff may face compulsory redundancy, with 12 locations across the UK likely to be affected.

The insurance giant says only 21 staff faced compulsory redundancy when it moved 1,250 UK jobs to India earlier this year. This week&#39s announcement will see the number of administrative and call centre staff at NU&#39s Delhi, Bangalore and Puna locations brought up to 3,700 by the end of 2004.


Life offices say FSA is facing online compliance chaos

The FSA is not prepared for the chaos that could result from making advisers submit compliance returns online, say leading life offices. The move could see the regulator deluged with forms delivered electronically from more than 4,000 firms. Measures to force all advisers to submit their compliance returns online by the second quarter of 2005 […]

FirstAssist announces management restructure

Health and wellbeing provider FirstAssist has announced two new appointments as part of its management restructure. Ted Waite will take on the role of partnerships manager, with Julie Goodwin joining the corporate sales team as new business development manager. The restructure is aimed at focusing on sales solutions for the financial services, SME and corporate […]

Heated over cold-calling ban

I see that the FSA is going to ban cold-calling in respect of mortgage marketing. Frankly, that is like telling the building industry that they are no longer allowed to mix concrete. The FSA says that “this follows in line with EU regulations, etc”. Do you know what I intend to do in relation to […]

To catch a theif

IFAs do not only have the regulator and product providers to contend with. The Diary was shocked to learn of the plight of Simply Biz chairman Ken Davy, who has been dealing with some trouble of his own. The Diary bumped into a somewhat shaken Davy at this year&#39s Aifa dinner, where we learnt that […]


Lifetime Isa – how it works

According to George Osborne “people like Isas – because they’re simple”. Fiona Tait is not convinced… Contributions & bonuses What he said: “From April 2017, anyone under the age of 40 will be able to open a Lifetime Isa and save up to £4,000 each year. And for every £4 you save, the Government will […]


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