More than 60 jobs lost as insurance comparison firm enters administration
A life insurance comparison business has made more than 60 staff members redundant after calling in administrators.
Based in Leeds, CompareThePolicies.com commenced full trading in 2016 specifically covering life, critical illness, income protection and Guaranteed Over 50’s insurance products.
The site compared life insurance plans, helping customers through the process from beginning to end and finding the right type of insurance cover; whether they wanted to assess their options online, or by speaking to a specialist over the telephone.
Sarah Bell and Steven Muncaster, both of Duff & Phelps, were appointed Joint Administrators of CompareThePolicies.com on 6 March. As a result, all 64 employees have been made redundant.
Bell said: “CompareThePolicies.com was a fast growing business in a market undergoing rapid expansion. It had grown to 64 staff since commencement of trading reflecting that dramatic growth. It is still too early to determine what happened within the Company to see such a reversal of fortune.
“What we can confirm today is that all 64 employees have been made redundant and we are now actively seeking a buyer for the remaining assets of the Company and encourage any interested parties to come forward.”
