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Zurich to cut 90 roles from UK life arm

Zurich is to cut around 90 roles from its UK life business.

The job losses will come from senior management, finance, legal, risk, compliance, operations and marketing. The life arm employs around 1,400 at present.

The job cuts are part of a group-wide process of cutting costs.

Zurich has entered into a 30-day consultation with affected staff.

A spokeswoman said the cuts will not result in the provider pulling out of an product areas it is currently in and said the launch of its retail platform is still on course for the second quarter.

Zurich Global Life in Europe chief executive and UK life business interim chief executive David Sims says: “It is always hard to make decisions which impact our people in this way, and we will do everything we can to support them through this process.  

“However with today’s uncertain economic outlook it is more important than ever that we, like all companies, protect our business. This enables us to remain competitive and flexible so that we can meet the changing needs of our customers and distributors and provide them with the products and services they need.”

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