IAG’s intermediated division restructure has led to job losses, with final numbers unclear as redeployment opportunities are considered.

The insurer is streamlining operations by uniting functions at CGU and WFI while maintaining the businesses’ distinct brand portfolios.  

Some employees have shifted into comparable positions or had changes to their roles, but insuranceNEWS.com.au understands up to 200 will be redeployed or made redundant.

The company said this month the Intermediated Insurance Australia division was centralising specialist expertise to drive performance across underwriting, product, pricing and claims.

IAG has declined to comment on the number of redundancies while changes are in progress.

“We understand this is a challenging time for our people, and we remain focused on supporting them through the changes under way,” a spokesperson told insuranceNEWS.com.au.

“We have just completed the consultation process with employees whose roles have changed, repointed or are no longer required.

“Our focus in the months ahead will be on supporting affected employees through the changes and assisting them with redeployment opportunities wherever possible.”

The Finance Sector Union says it has major concerns with the number of job cuts at IAG in recent months.

“IAG has made business decisions without proper consideration of the impact on its employees, and we are concerned there will be further redundancies,” national secretary Julia Angrisano said.

“IAG workers have faced a lot of change recently and our members are seeking secure work and certainty about their future. The FSU will continue to support our members at IAG as they seek to secure their roles and entitlements.”