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Top 20 Spotlight - 18. Co-operative Insurance Services

18. Co-operative Insurance Services Co-operative Insurance Society, Miller Street Manchester M60 0...

18. Co-operative Insurance Services

Co-operative Insurance Society, Miller Street

Manchester M60 0AL

Tel: 08457 46 46 46

www.cis.co.uk

A YEAR IN THE NEWS

NOVEMBER 2004

- Announces it will close its 106 district offices by the end of 2005, which sees 900 staff go. This is part of Co-operative Insurance Society's review of its insurance business, which has seen 2500 staff axed since July 2004.

DECEMBER 2004

- Axes 175 jobs with the closure of seven of its 18 regional claims offices.

FEBRUARY 2005

- Reveals up to 150 management roles could be shed in its latest round of job cuts. The company announces a restructure of its home service operations and considers streamlining the operation's management numbers from 420 to 270.

MARCH 2005

- 270 staff relocate after the company reveals it will close another seven claims offices, leaving it with four enlarged regional bases, in addition to a new claims contact centre in its Manchester headquarters.

APRIL 2005

- Profits slump nearly 50% from £61.7m in 2003 to £32.2m. New business declines from £175.2m to £167.6m.

JUNE 2005

- The company is threatened with strike action by the Union of Shop, Distributive and Allied Workers over pay reforms.

JULY 2005

- General Insurance director Andy Watson leaves to become managing director at UKI Partnerships.

SEPTEMBER 2005

- CIS door-to-door staff and financial advisers vote to strike unless the insurer agrees to arbitration.

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