Canada Life has confirmed its UK division is undergoing a reorganisation as part of its modernisation and transformation programme.
As a result, the life insurer has also confirmed that there will be new roles and some job losses although at this stage they cannot say the scale of those job losses.
Lindsey Rix, chief executive of Canada Life, said: “Our aim through this work is to simplify reporting lines, improve ways of working and equally build capability to be more competitive in our chosen markets. We will be introducing new roles, and changing some roles to create better focus for us as a team.
“We remain focused on building our retail wealth and retirement businesses, while retaining our market-leading group risk position, and delivering the commercial objectives for our shareholders.
“Inevitably, with changes of this scale, regrettably there will be job losses. We are working with colleagues affected by this announcement and will, of course, fully support them through this change.”
As part of the wider reorganisation, Canada Life has also confirmed that technical director Andrew Tully will be leaving the firm at the end of the month.
Tully has been with the firm since 2019, he has previously worked at Retirement Advantage and Standard Life.
The company did not state which other members of staff will be leaving the company.