Another round of RBSI cutbacks points to gloomy NIG future
Broker-only insurer NIG could face further cuts following Royal Bank of Scotland Insurance's (RBSI) announcement that it is axing up to 2,000 roles across all of its brands over the coming year.
Paul Geddes, RBSI chief executive, said the move was necessary in order for the insurer to regain its "competitive edge".
Although it has not yet been revealed exactly where the axe will fall, all RBSI brands, including NIG, Direct Line and Churchill, will be impacted by the plans, which include offshoring about 500 back-office roles.
Over the past year, NIG has reduced its office footprint from 18 to 10, closing its Cardiff, Chelmsford, Exeter, Leicester, Liverpool, Newcastle, Reading and
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