South African insurer Liberty Holdings, wholly owned by the Standard Bank Group, is considering restructuring parts of its operations, including its health business, which might lead to staff layoffs.
Liberty confirmed to Moneyweb that it is “in the process of reviewing its operating model in non-advice sales channels and its health business unit, Liberty Health”. In a telephonic interview with Reuters in February 2019, then Liberty CEO David Munro said some of the company’s operations, including the health insurance arm would be put under “ownership review”. ADVERTISEMENT CONTINUE READING BELOW Read:Standard Bank appoints David Munro to lead Liberty’s integration
Liberty did not want to divulge details on exactly when the process will commence, or the number of employees who stand a chance of losing their jobs, but said that a “consultative process is being managed in accordance with South Africa’s labour laws”.