Allianz to axe 98 SME jobs

Allianz is making 98 roles redundant from its commercial operations after a review of how it handles SME business.

The insurer said the changes follow the successful implementation of its full cycle eTrade platform QuoteSME.

The insurer is closing its SME operations at Milton Keynes in October and will instead handle all SME operations from its Maidstone office.

The move means that 57 roles at Milton Keynes will be made redundant.

Allianz said the small number of brokers who deal with its Milton Keynes branch will instead be serviced by its Luton branch.

It is also making 41 roles redundant from its Bristol-based Business Insurance Centre, after changes to its bancassurance arrangements.

Insurance Times revealed in February that Allianz had lost the exclusive bancassurance contract with Lloyds Bank, which opted to work with broker Arthur J Gallagher instead.

Lloyds said that Allianz would play an important role on Gallagher’s panel.

Allianz’s Business Insurance Centre will close on 31 August and the handling of the its bancassure business transferred to its office in Lancaster.

Allianz said it hoped a “good proportion” of the affected staff would be found alternative roles across the business, which it had successfully achieved in the past.

The insurer employs more than 750 people in Bristol and 400 in Milton Keynes.

Allianz commercial manager Simon McGinn said: “This set of changes has resulted from a specific review of our SME operations in the context of a rapidly changing and increasingly digital environment. We are a business that is gearing for growth and there are no other structural changes in view. 

“Decisions of this nature are never easy, but to ensure we are structured to achieve our ambitions we need to position our operations to deliver a growing and profitable set of business results over the medium and long term.

“Allianz remains committed to further building our branch network as we believe that proximity to brokers and customers is the key to our success.”