Royal Liver Assurance

Type
Closure
Country
Ireland
Region
Ireland; Eastern and Midland;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
121 jobs
Number of planned job losses
Job loss
Announcement Date
9 May 2006
Employment effect (start)
Foreseen end date
30 September 2006

Description

Royal Liver Assurance is to close its direct sales division in Ireland, with the loss of 121 jobs out of a total workforce of 550, by the end of September. In a statement, the company remarked, "In an increasingly competitive marketplace, where the customer is seeking independent financial advice and greater choice, the broker channel is becoming more dominant".

"The company's strategy is to offer independent financial advice and access to a wide range of products through a new broker company".

Sources

  • 10 May 2009: The Irish Examiner
  • 10 May 2009: The Irish Independent

Citation

Eurofound (2006), Royal Liver Assurance, Closure in Ireland, factsheet number 63459, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63459.