The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
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
121 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63459.
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