Business Services Industry

Lloyd's of London to Cut 300 Jobs in its Insurance Services Unit.

Knight Ridder/Tribune Business News, September, 1998 by Daily Mail, London

Knight Ridder/Tribune Business News

Sep. 18--The Lloyd's market is to axe 300 jobs in its insurance services division in a UKpound 10 million cost-cutting drive. The division has 1000 staff. Lloyd's chief executive Ron Sandler says: "Insurance worldwide is experiencing radical restructuring to which Lloyd's must respond." Some of the cut reflects business transferred to reinsurer Equitas.

Visit the Daily Mail and the Financial Mail on Sunday at http://www.financialmail.co.uk

(c) 1998, Daily Mail and the Financial Mail on Sunday, London. Distributed by Knight Ridder/Tribune Business News.

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