Equity cuts nine staff as group restructures

Equity has made nine staff redundant in its finance departments, as part of a group restructure.

The staff are all from the Essex offices in Colchester and Brentwood.

An Equity spokesman said: “As part of the group’s restructuring programme, we’ve made nine roles in our finance department redundant over the past three months. During the same time period, we’ve redeployed 13 people into alternative functions that more accurately reflect the needs of our business.”

As reported by Insurance Times earlier this month, former Equity Red Star underwriter Stuart Heath joined Lloyd’s insurer Novae this week. Heath has a wide breadth of experience in household, commercial, personal accident and caravan risks in the UK and European markets.

He is taking a team of four underwriters and one assistant from Equity. The Equity group has 1,250 staff, including employees in high street offices, dealing in fleet and special risks underwriting operations in Glasgow, Leeds, Bristol, Birmingham and Manchester.