QBE to consult on UK job losses

Australian insurer QBE is to enter a period of consultation with UK employees about redundancies and offshoring jobs to the Philippines.

QBE warned in December that it would post a $250m loss (£139.2m) for 2013 owing to unexpected writedowns at its North American operations.

The UK plans would form part of a group-wide turnaround project to increase QBE’s competitiveness.

In July QBE opened a hub in Manila to process small claims from Australia and Europe that it said would save at least $250m by the end of 2015.

A QBE spokeswoman told Insurance Times: “We have briefed our employees about the potential implementation of a business transformation project. 

“This UK project forms part of a global transformation programme for the QBE group to leverage its global scale and expertise and increase competitiveness.

“In line with legal obligations, QBE Europe will shortly be commencing consultation with representatives of affected employees about its proposals. This will include consultation about any potential redundancies.

“Proposals may result in a transfer of some operations to other QBE operations in the UK and Philippines.

“No formal proposals have yet been tabled. As further information becomes available, our priority will be to share it with our employees first.”