250 jobs at risk at insurance provider RSA in Peterborough
Most redundancies likely to take place in 2026
Up to 250 jobs are at risk today (March 26) at an insurance giant in Peterborough, it has been announced.
Staff at RSA Insurance, based in Lynchwood House, Peterborough Business Park, Lynch Wood, have been told that the redundancies are likely to be phased over two years.
A consultation process has begun with 250 of the 450 staff that are employed by the company in Peterborough and talks are ongoing with union officials.
Bosses have vowed to widen the redeployment opportunities available for staff as well as providing a full package of support for those in need.
The move comes as the insurance company looks to leave the personal insurance market, a decision that was first announced in December 2023.
As a result of that decision, one of RSA’s customers, Nationwide, opted in January this year to choose Aviva as its new service provider for its home insurance product.
A spokesperson for RSA said: “Our people in Peterborough largely support our insurance partnership with Nationwide.
“Since then we have been in detailed discussions with Aviva regarding what this means for our people.
"Today we have confirmed that Aviva will manage the vast majority of the Nationwide work from its existing offices in Perth and Glasgow when they take over the contract starting in the autumn.
"250 of our staff support the Nationwide contract.
"These people are now entering into an extended period of discussions as we wind down our support to Nationwide over at least the next two years.
He added: “We have been consulting with Unite the union for some time and these discussions will continue throughout this process.
"There will be a small reduction in roles in September, with the majority of the reductions throughout 2026 as the ramp down of existing Nationwide business will take at least two years to complete.
"We will seek to maximise redeployment opportunities as well as providing a full package of support to our people including outplacement help, hosting recruitment fairs and proactively contacting other local employers.
And he added: “There will be no disruption to the level or quality of service that Nationwide customers receive as RSA and Aviva will work together to ensure a smooth transition.”