Norwich Union Life is to transfer its Norwich based marketing and actuarial functions to its York head office as part of its drive to further increase efficiency and operational effectiveness.
Norwich Union Life to refurbish operational sites in Norwich
Norwich Union Life is to transfer its Norwich based marketing and actuarial functions to its York head office as part of its drive to further increase efficiency and operational effectiveness. The moves will take place during the next nine months.
Marketing
The marketing function, which currently employs around 110 people in Norwich, will be entirely based in York as part of a wider reorganisation of the company’s marketing operations. The changes are necessary to create a more customer focused and efficient operation to meet the challenges of the changing marketplace.
Marketing staff affected by the change will be able to apply to relocate to York. Relocation assistance will be provided for those people who do relocate. The company will also look at what other opportunities exist for the affected staff in Norwich – for example within Norwich Union’s general insurance business. Where staff do not relocate and no further opportunities can be found for them in Norwich, then unfortunately this will result in redundancy.
Actuarial
As part of a wider review of the actuarial and finance functions in the company, designed to deliver a more efficient and streamlined operation, all actuarial work, with the exception of the actuaries working in the Corporate Benefits Services area, will be moved to York. In addition the data support team in the actuarial function will be moved, resulting in a total of 32 roles being relocated to York.
Staff affected by the change can apply to relocate to York. Relocation assistance will be provided for those people who do relocate. The company will also look at what other opportunities exist for the affected staff in Norwich – for example within Norwich Union’s general insurance business. Where staff do not relocate and no further opportunities can be found for them in Norwich, then unfortunately this will result in redundancy.
In addition, the Corporate Benefits Services department, based in Norwich, is to be restructured to increase its operational efficiency. We will look for other opportunities for the people affected in Norwich – however, we do anticipate around 13 compulsory redundancies as a result of this restructure.
Site refurbishment
As part of its long-term commitment to having a major operational base in Norwich, Norwich Union Life is also announcing that it is to continue its refurbishment programme in Norwich. Refurbishment work in Sentinel House and Colegate will be commenced in 2005. This refurbishment is in addition to the major refurbishment announced in June regarding the Island Site occupied by the general insurance business.
Commenting on the announcement, Norwich Union Life human resources director, John Ainley, said: "The decision to move these functions from Norwich to York is a difficult one and not one which has been taken lightly. We know that people will be disappointed by this announcement, but in the rapidly changing market in which we operate, we have to ensure we maximise our levels of efficiency and effectiveness to ensure we stay ahead.
"We will do everything we can to minimise redundancies by assisting the staff affected by the changes. Where appropriate we will look at the opportunity for people to relocate to York and will provide relocation assistance for those people who do move. We will also help people to look for other opportunities within Norwich Union in Norwich.
"As part of our long-term commitment to have major operations based in Norwich, we will be stepping up our refurbishment plans in Norwich with work due to start on refurbishment of Colegate and Sentinel House during 2005. This, combined with the major announcement of the Island Site refurbishment in June by the general insurance business, clearly underlines Norwich Union’s long-term commitment to Norwich."
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Press office contacts:
James Evans 01904 452791 Out of hours 07800 699525
Rob Pell 01904 452659 Out of hours 07968 934091
Notes to editors:
- Norwich Union is the UK's largest insurer. It is the UK's largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including Tesco Personal Finance and The Royal Bank of Scotland Group. Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.