British insurer Royal & SunAlliance to move 1,100 jobs to India
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LONDON  - British insurer Royal &amp; SunAlliance said Monday it plans to transfer more than 1,100 jobs to India over the next few years in a bid to cut costs.
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FINANCIAL news and information giant Reuters announced it would shift 50 per cent of its data operations to India and add 860 workers by the end of next year.
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IT services company Accenture will have more staff in India than in any other country by the end of August.
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LONDON, October 11  - Royal &amp; Sun Alliance (SUA1.ETR) plans to shift more than 1,100 UK-based jobs, or about 10% of its total workforce in the UK, to India over the next two years.
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British insurer Prudential announced a 92-percent take-up of a new share issue worth one billion pounds (1.43 billion euros, 1.85 billion dollars).
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FINANCE group HHG is selling its British life assurance assets to entrepreneur Hugh Osmond&#39;s Sun Capital in a Â£1.025bn cash deal.
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Financial news and information giant Reuters announced it would shift 50 percent of its data operations to India and add 860 workers by the end of next year.
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High Street bank Lloyds TSB says it plans to create up to 1,000 new jobs in India, many of which will replace UK posts.
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One of the country&#39;s biggest insurance firms, Royal &amp; SunAlliance, is to transfer more than 1,000 jobs to Bangalore in India.
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AVIVA, owner of Norwich Union and Britainâs largest insurer, plans to make around 150 people in the UK redundant next year as it increases its offshoring capacity by creating 950 jobs in India and Sri Lanka.
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The Royal and Sun Alliance Insurance Group, a British nonlife insurer, offered 6.4 billion kroner ($1.2 billion) to buy the stock it does not already own in Codan, a nonlife insurer in Denmark. Royal and Sun bid 605 kroner apiece for the shares, a premium of 15 percent over the closing price Wednesday of 525 kroner. Royal and Sun completed the sale of operations in the United States in March to focus on British and Scandinavian businesses and on emerging markets.
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Sun Capital Partners Inc. and TDR Capital LLP, private equity buyout firms, agreed to pay 1.03 billion pounds ($1.98 billion) for HHG Plc&#39;s UK-based life insurance units, their first investment in the industry.
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Lloyds TSB is moving another 1,000 jobs to India, increasing its workforce in Bangalore and Mumbai to 2,500 by the end of next year.
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Aviva, the biggest insurer in Britain, has said that it plans to cut 4,000 jobs in the country, or 11 percent of its British workforce by 2008, and transfer 1,000 positions to India.
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Reuters, the British news and financial information provider, will eventually employ up to 10 percent of its workforce in India, it was reported.
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RSA has been shedding thousands of jobs as part of a major restructuring intended to refocus on general insurance. The firm has also sold its life business and other assets to strengthen its finances.
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UK insurance giant Royal &amp; Sun Alliance is to offshore some 1,200 back office and call center jobs to India over the next two years.