Halting life cover sales could lead to layoffs at Y3S

Specialist broker Y3S Group could make a number of redundancies in its life insurance department.

Matt Cottle, director of Y3S Group, says 24 staff are in consultation, 19 of whom have been redeployed into other Y3S companies.

Cottle says it has yet to make a decision regarding the remaining five, but expects to do so in the next few days.

He adds: “We are no longer selling life insurance and instead increasing our staff numbers in our loan and bridging departments.”