shutterstock_1220932669_resized

29 August 2023Insurance

Farmers to cut 2400 jobs in strategic play for future profits

US insurer Farmers is to trim 11% percent of its workforce across all lines of business in a strategic move to align the company for sustainable profitability in the future. The company’s chief executive said that “decisions like these are never easy” but are necessary to reduce costs and prudently manage risks given the current macroeconomic environment.

Already registered?

Login to your account

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Lloyd’s CEO throw gauntlet down to governments over what they will insure

3 July 2026 Understanding state responsibility would help London Market price risk, says Tiernan.

US insurance job rout deepens as broker layoffs join the count

2 July 2026 Insurance job counts suffer worst half year on record after BLS revisions.

Hamilton Select promotes duo to lead next phase of US E&S expansion

2 July 2026 Leadership changes boost wholesale strategy and broader product offering.

More articles

Lloyd’s CEO throw gauntlet down to governments over what they will insure

Reinsurers’ ray of Suncorp: Aussies spend more as market softens

Data loss, cyber-attack continue to weigh heavily on C-suite minds

Flood Re halves premiums for low-income homes, prepares for 2039 exit

California clears key reform: FAIR Plan cost pass-through upheld

ICEYE expands wildfire intelligence platform into Canadian market

US airline risks face renewal hurdles as aerospace rates remain suppressed: Marsh

On the menu: Howden services US food and beverage sector risk appetite

Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze