Record life insurance figures for Norwich Union

Fri, 27 Oct 2006

Ahead of large-scale job cuts at their York Office, Aviva (the parent company of Norwich Union ) have revealed soaring sales figures.

The company will sack 450 staff at their York office, despite sales in life insurance and other financial services soaring by almost 40 per cent. The company has also been performing well in a global sense, with sales climbing by 22 per cent.

Aviva plans to fire almost 4,000 people throughout Britain, with many jobs being either outsourced or going to India . Apparently, the impact of the internet on the life insurance market has also been huge, with vast numbers of policies sold online without the need for insurance employees.

The chief executive of Norwich Union Life, Mr. Mark Hodges, praised his staff for their role in sales increases. He continued: "The reason we made the announcement last month was to ensure that the business stays healthy and fit in the long-term. We were living beyond our means. So we were responding to external pressures and our need to be more efficient."

He further justified the job losses by saying: "While no one likes this, we will be working through it as sensitively as possible."
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