Internal restructuring
United Kingdom
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

170 jobs
Number of planned job losses
Job loss
Announcement Date
1 March 2005
Employment effect (start)
Foreseen end date


The Co-operative Insurance Society is closing 14 of its offices around Britain with the loss of 170 jobs. Offices in Belfast, Edinburgh, Newcastle, Cardiff, Plymouth, Sutton, and Maidstone will go. It is also proposing closures in Watford, Chorley, Leeds, Manchester, Bristol, Southampton and Glasgow. The society says it will be balancing the job losses by the creation of new jobs in Manchester, Bury St Edmunds, Stoke, Nottingham and Rugby. It follows the announcement of the loss of 2,000 jobs in July 2004. In recent years, it has been affected by increased competition in the financial services sector. It has also been slow to respond to a growing trend for consumers to buy financial products via the internet or telephone rather than directly from a financial adviser.


  • 1 March 2005: BBC News


Eurofound (2005), Cooperative Insurance Society, Internal restructuring in United Kingdom, factsheet number 61203, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61203.