The three largest insurance brokers each announced or closed multi-billion-dollar acquisitions in 2024. The topic was one of many in which readers of Insurance Journal kept a close eye this year. Also the last 12 months saw difficulties in the …
Direct Line Insurance Group Plc, the UK insurer that rejected a takeover attempt by Belgian rival Ageas SA earlier this year, is set to cut about 550 jobs as part of a turnaround plan aimed at saving £50 million ($64 …
Farmers Group is laying off more employees one year after it cut ties with 11% of its workforce or 2,400 people. This time the insurer said it is not disclosing how many people may lose their jobs. However on August …
Fourteen percent of insurance companies plan to reduce employee headcounts in the next year, according to numbers from Aon and The Jacobson Group’s latest insurance labor market study. Jeff Rieder, partner at Aon and head of STG Performance Benchmarking, said …
Insurer Nationwide said late last week that it is reducing its headcount by about 5% over the next year. “We can’t speculate on the total number of job impacts,” said Nationwide in a statement. “Eligible associates are able to apply …
USAA is laying off 220 employees in an effort to reprioritize positions amid changing business needs, the San Antonio-based insurer announced this week. This is the latest round of layoffs at USAA, which let go of nearly 1,000 employees in …
Liberty Mutual has confirmed it is eliminating about 250 positions, or 0.5% of its global workforce, as it continues implementing new organizational structures within US Retail Markets and Global Risk Solutions units. In an email a spokesperson said some employees …
U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs, said the authors of the report, Tyler Hammel and …
Auto insurers again in 2023 had a lot of trouble battling several headwinds preventing them from turning a profit. The topic was one of many in which readers of Insurance Journal kept a close eye. Other than the trials of …
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading cause of the job …
