Insurance
TAL reviews life distribution team

The major life insurer has confirmed several roles within its life insurance distribution team have been made redundant as a result of a restructure.

A spokesperson for TAL has confirmed to Financial Standard that a recent review of its business units has resulted in team changes and roles being removed.

Financial Standard understands those impacted were notified this week, with several redundancies taking place.

"In late 2019, TAL announced a new structure to better reflect the evolving shape and size of the Australian life insurance market and the recent integration of the Asteron Life business," the spokesperson said.

TAL has since reviewed a number of business unit structures to align them with its overarching priorities and strategy, the insurer said.

"As part of this, a number of roles within some teams have changed and a number of roles have been removed," the spokesperson said.

"We do not take these decisions lightly and we are working to redeploy as many people as possible across our business."

The insurer did not confirm how many roles were impacted and would not comment on whether the distribution team was the only team that saw cuts.

TAL acquired Asteron Life from Suncorp in early 2019 at which time cuts were also made to the team.

Read more: TALAsteron LifeFinancial StandardSuncorp
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