Swiss Life

Type
Closure
Country
United Kingdom
Region
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
250 jobs
Number of planned job losses
Job loss
Announcement Date
16 August 2003
Employment effect (start)
Foreseen end date

Description

Swiss Life restructuring is marking the final phase of the distressed insurer's withdrawal from the UK.

Chief executive Rolf Dorig said the restructuring would restore profitability after a SFr 1.7 billion loss in 2002.

Sources

Citation

Eurofound (2003), Swiss Life, Closure in United Kingdom, factsheet number 59545, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59545.