Insurer Geico will add 500 new jobs at its Amherst, New York operations center. A new Geico subsidiary will handle calls and questions concerning its home insurance and liability packages. The Amherst Industrial Development Agency and the Empire State Development Corporation are offering Geico job creation incentives. Over the next decade, Geico will add 500 jobs to [...]
Continue reading...Wednesday, June 24, 2009
Greensboro’s United Guaranty is cutting 160 jobs, or 17% of its workforce, primarily in North Carolina. The company employs 500 at its Greensboro headquarters. It has not revealed how many of the cuts will hit there. Founded in 1963, United Guaranty provides insurance products and services to mortgage lenders. Apart from its Greensboro, North Carolina headquarters, it [...]
Continue reading...Tuesday, June 16, 2009
Beneficial Financial Group, one of Utah’s oldest insurance and annuity companies, will cut 150 jobs from its Utah work force of 214, and discontinue writing new policies. Beneficial Financial Group is an insurance and financial services company based in Salt Lake City, Utah. It is a subsidiary of Deseret Management Corporation, which is in turn owned [...]
Continue reading...Tuesday, June 16, 2009
Farmers Group will spend $84.4 million to expand its Grand Rapids, Michigan campus, adding 1,600 employees and creating 11,000 direct, spin-off and construction jobs in the state. Farmers will build two new buildings totaling 275,000 square feet, housing offices, a training facility, a call center and a print & distribution center. The Michigan Economic Growth Authority Board [...]
Continue reading...Monday, June 15, 2009
TD Banknorth will open a new call center in Auburn, Maine, creating up to 300 jobs. The bank will spend $15 million on the center, which will open in 2010. It will open another facility in Lewiston, creating an additional 200 jobs. Portland, Maine’s TD Banknorth, formerly Banknorth, is a fully-owned subsidiary of Toronto-Dominion Bank. It conducts [...]
Continue reading...Thursday, May 7, 2009
Old Mutual has cut “close to” 200 jobs in its US life insurance business, about half of its American workforce. The UK-based insurer employs 57,000 people in 38 countries. The firm has sold its Australian business, and will shutter its Hong Kong office in June. Old Mutual PLC is an international insurance company and investment management company. Originally [...]
Continue reading...Friday, May 1, 2009
Hartford, Connecticut’s Hartford Financial Services is shutting down most of its operations in the United Kingdom, Ireland and Germany. The firm has not announced any specific numbers. It has 380 employees in Europe. The European subsidiary, Hartford Life Limited, has more than 18,000 policies and £1.2 billion ($1.8 billion) of assets under management. Founbded in 1810, The Hartford [...]
Continue reading...Thursday, April 30, 2009
Stewart Information Services, one of the largest US title insurers, will cut 3% of jobs during the period. The company reported investment and other losses of $8.8 million for the period, compared with $297,000 a year ago. Houston, Texas’ Stewart Information Services writes title insurance through its Stewart Title, National Title, and other subsidiaries and distributes them [...]
Continue reading...Tuesday, April 21, 2009
Philadelphia-based not-for-profit health insurer Independence Blue Cross plans to eliminate between 100 and 125 positions this June. Those laid off will get severance and career counseling. Founded in 1938, Independence Blue Cross is one of the largest health insurers in the Philadelphia five-county area, providing health care coverage for more than 3.4 million members nationwide. More than [...]
Continue reading...Thursday, April 16, 2009
According to Reuters, banks, insurers and asset managers worldwide have announced 373,760 job cuts since August 2007. The five firms that top the list for layoffs are Citigroup with 75,000 jobs cut; Bank of America with 45,500; JP Morgan with 23,700; UBS with 19,700; and HSBC with 16,250. Collapsed Lehman Brothers made about 6,000 job cuts made [...]
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Tuesday, August 18, 2009
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