‘We have identified potential to reshape our team based in Gracechurch Street,’ says Allianz spokesperson
Allianz Commercial has confirmed it is reviewing the structure of its London-based financial lines business, with potential changes to its management liability and professional indemnity teams.
The insurer said both product lines remained “core parts of our global financial lines portfolio” but that a recent strategic review had identified “potential to reshape our team based in Gracechurch Street”.
A spokesperson added: “This is subject to an individual consultation process and therefore we are not able to comment further at this point.”
Time of change
The development comes as Allianz continues a multiyear transformation programme across its UK operations. In June 2025, the insurer announced plans to cut 650 roles from its general insurance workforce by the end of next year.
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At the time, Allianz UK said the decision reflected changing customer behaviour – particularly a shift towards digital and self-service channels – as well as a more stable risk environment in motor.
The job reductions, which are also subject to consultation, will span the insurer’s personal lines, commercial, specialty and central functions.
Allianz UK is also investing £400m in reshaping its business between 2024 and 2025, aiming to become a “simpler, digital-led, leaner” organisation.
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