Pearl takes a dive as further job losses announced

Insurance
company Pearl Assurance is to cut 1,900 UK staff.

The
losses will include the company’s entire team of 1,000 direct sales people,
plus 900 office staff.

The
cuts at the Peterborough-based firm come on top of 1,500 losses announced in
June.

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Pearl’s
Australian owner AMP recently injected £500m into Pearl’s life business to make
sure the firm met UK solvency rules.

By Quentin Reade