Norwich Union Life is introducing changes to its distribution teams to reflect the changes in the advisory market.
The number of field base sales consultants will reduce from around 220 to 160. The number of telephone based sales consultants will rise from about 25 to 50. Regional offices will be reduced from 16 to 6 by March 2005.
NU Life anticipates the changes will result in a reduction of 120 staff.
The changes are being made as NU realigns its distribution brought about by significant regulatory change and market consolidation.
NU director of distribution David Barral says: “We will be realigning our account management, technical and sales support to provide dedicated support according to the differing needs of the advisory market. We recognise that this will be an uncertain time for those people affected by the changes and we will do all we can to help people during this time.”