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| Company Summary for Norwich Union Life Services Limited |
HQ Address
2 Rougier Street
York
YO90 1UU |
Telephone Number
Fax Number
Website
Email
Number Of Employees
Number Of UK Locations |
01904 - 628982
NA
www.norwichunion.com
NA
NA
42 |
| Norwich Union is an Aviva company. Aviva plc is the world’s fifth-largest insurance group (based on gross worldwide premiums) and the biggest in the UK. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales of £36 billion, and £332 billion of assets under management. The group has 58,000 employees serving 35 million customers worldwide. Aviva’s history can be traced back over three centuries. . The Company primarily operates in Europe, including the United Kingdom, France and Spain and has about 30 million customers worldwide. Norwich Union Life (NUL) is the leading long-term savings provider in the UK, with a life market share of around 12%, and produces 45% of Aviva’s worldwide long-term savings new business. It is also a market leader for stakeholder pensions. NUL has nearly 7 million customers and employs more than 12,300 people in 8 major locations and sales offices across the UK. Its head office is in York, and other main offices are based in Bristol, Eastleigh, Glasgow, Norwich, Sheffield, Southampton and Stevenage. Its main business sectors include long-term savings, pensions and investments, life assurance, and health insurance. Norwich Union Insurance (NUI) is the largest general insurer in the UK and produces more than half, (60%) of Aviva’s general insurance business. It has an overall market share of 14%. The company insures one in five households, one in seven motor vehicles and more than 800,000 businesses in the UK. NUI has 4.3 million customers and following the acquisition of the RAC, NUI now employ about 24,000 staff in over 40 locations across the UK. |
| Activities in Sector(s) |
| Insurance & Assurance : |
Insurance - Non Life, Life Assurance |
| Turnover in the Insurance and Assurance sector grown by 50% in the past year, rising to £206.7bn, with profits remaining stable at around £10.4m. Employee numbers have also remained relatively stable, dropping by only 1% to reach approximately 570,000 people over the same time period, indicating high productivity as decreased staff numbers have made a significant positive impact on turnover in the sector. |
|
| Presences in Region(s) |
| West Midlands(1), Yorkshire and the Humber(1) |
| Key Financial Data |
Latest |
Year -1 |
Year -2 |
Year -3 |
Year -4 |
| Turnover |
| UK Turnover |
| Overseas Turnover |
| Cost of Sales |
| Operating Profit |
| Profit Margin |
| Remuneration |
| Land & Building |
| Fixtures & Fittings |
| Plant & Vehicles |
| Stock & W.I.P |
| Short Term Loans & Overdrafts |
| Hire Purch. & Leas. (short t.) |
| Hire Purchase & Leas. (long t.) |
|
| £686.6m |
| £686.6m |
| NA |
| NA |
| £-21.9m |
| -12.44 |
| NA |
| NA |
| £55.1m |
| NA |
| NA |
| £92.7m |
| NA |
| NA |
|
| £696.1m |
| £696.1m |
| NA |
| NA |
| £-51.2m |
| -9.37 |
| £17.5m |
| NA |
| £58.0m |
| NA |
| NA |
| £117.3m |
| NA |
| NA |
|
| £769.1m |
| £769.1m |
| NA |
| NA |
| £-70.8m |
| -10.30 |
| £20.2m |
| NA |
| £45.9m |
| NA |
| NA |
| £141.1m |
| NA |
| NA |
|
| £724.8m |
| £724.8m |
| NA |
| NA |
| £-8.4m |
| -0.48 |
| £99.6m |
| NA |
| £36.7m |
| £0.0m |
| NA |
| £162.3m |
| NA |
| NA |
|
| £493.6m |
| NA |
| NA |
| NA |
| £-61.6m |
| -11.51 |
| £167.5m |
| NA |
| £11.4m |
| £14.6m |
| NA |
| £114.1m |
| NA |
| NA |
|
| Key Employee Data |
Latest |
Year -1 |
Year -2 |
Year -3 |
Year -4 |
| Number of Employees |
| Wages & Salaries |
| Pension Costs |
| Directors' Remuneration |
| Highest Paid Director |
| Average Remuneration per Employee |
| Turnover per Employee |
| Profit per Employee |
|
| NA |
| NA |
| NA |
| £2.7m |
| £0.7m |
| NA |
| NA |
| NA |
|
| 579.00 |
| £14.5m |
| £1.6m |
| £2.3m |
| £0.6m |
| 30,157 |
| 1,202,323 |
| -112,565 |
|
| 790.00 |
| £16.3m |
| £2.3m |
| £2.0m |
| £0.4m |
| 25,610 |
| 973,524 |
| -100,157 |
|
| 872.00 |
| NA |
| NA |
| NA |
| NA |
| 114,231 |
| 831,182 |
| -3,922 |
|
| 7001.00 |
| NA |
| NA |
| £1.9m |
| £0.4m |
| 23,931 |
| 70,498 |
| -8,104 |
|
| Company News |
| 16 Feb 2007 |
New call centre in Perth – 150 jobs created |
| |
Norwich Union Insurance company has announced the creation of 150 jobs in a new call centre in Perth just months after it made 450 workers in Scotland redundant. The new staff are required for a range of customer-related activities with corporate partners. The new jobs will be of great benefit to the local economy. |
| 10 Feb 2007 |
150 call centre jobs transferred from India – improved customer service |
| |
Norwich Union is transferring 150 call centre jobs from India to Norwich, in order to receive calls from customers making their initial insurance claim. The change is part of the company’s on-going programme of improving customer service. |
| 03 Nov 2006 |
£250 Incentive Bonus - Recommend Potential New Employees - Relocating Jobs Overseas |
| |
Norwich Union Ltd, an insurance group, has offered its staff at Perth, Scotland, a bonus of £250.00 if they can recommend potential new employees. The initiative has been introduced following the company’s confirmation to relocate 250 jobs from Perth and 200 from Glasgow, to India. The company currently employs 1,400 staff at its Perth site and 864 in Glasgow. The number of job losses has not yet been confirmed. A total of 4,000 job losses will be introduced by the end of 2007 in an attempt to save £250m. |
| 06 Oct 2006 |
Outsourcing Work Overseas - Headcount Reduction - 500 Permanent Job Losses - 200 Contract Job Losses |
| |
Norwich Union Life Services Limited, an insurance group, is expecting to outsource a range of technology functions to India, which is to result in 500 permanent job losses and 200 contract job losses. Approximately 75% of the workforce will be outsourced to third-party suppliers, Tata Consultancy Services and Wipro. The company employs 2,800 IT staff and 1,400 outsourced roles. Alex Robinson is the Chief Information Officer of Norwich Union Life Services Limited. |
| 24 May 2006 |
Norwich Union is planning to remove 120 jobs at a call centre in Bristol, South West. The firm is relocating the work carried out by staff to Birmingham and Leeds. In 2005, Norwich Union moved 950 jobs to India, including those of IT staff in Bristol. The RAC - which is owned by Norwich Union - also removed 200 jobs at its Bristol call centres. The affected staff take calls from brokers who sell insurance for Norwich Union. The Bristol office is to close partly because there are a significant number of alternative roles for those affected and which are not available in other company locations. |
| 06 May 2006 |
Norwich Union’s with-profits sales have risen strongly since the launch of its Inflation Protected Guarantee on 30 January 2006. With-profit sales through financial advisers and offshore channels totaled £108m – 44% higher than the same period in 2005. The guarantee protects customers’ original investments and tracks the Retail Price Index (RPI). |
| 03 May 2006 |
Norwich Union has won a contract with Trafficmaster plc, the leading supplier of digital traffic information and intelligent in-vehicle services, for the provision of a further 35,000 telematics “black boxes”. This extends the contract that Norwich Union signed in 2005 with Trafficmaster to provide additional boxes for its Telematics Programme. The “boxes” are at the heart of Norwich Union’s “Pay As You Drive”TM insurance programme and record the time, distance and location of a vehicle’s journeys. Norwich Union, the UK’s largest general insurer, is conducting a pilot to investigate motorists’ preference for a usage-based motor insurance product. The ongoing “Pay As You Drive”TM and Fleet Telematics pilots launched in 2004 and 2005 have proved extremely successful, enabling Norwich Union to better understand vehicle usage and driving behaviour – providing a uniquely accurate risk assessment tool. |
| 25 Sep 2005 |
Short Term Loans & Overdrafts is £92.7m in the current year, a fall from £117.3m last year and representing a decline of 18.7% over the past five years. |
| 25 Sep 2005 |
Fixtures & Fittings is £55.1m in the current year, a fall from £58.0m last year and representing a growth of 381.0% over the past five years. |
| 25 Sep 2005 |
Turnover is £686.6m in the current year, a fall from £696.1m last year and representing a growth of 39.1% over the past five years. |
| 25 Sep 2005 |
Highest Paid Director is £0.7m in the current year, an increase from £0.6m last year and representing a growth of 63.1% over the past five years. |
| 25 Sep 2005 |
Directors' Remuneration is £2.7m in the current year, an increase from £2.3m last year and representing a growth of 44.3% over the past five years. |
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