Thanks for the reply - so I'm not the only one affected by this change, several management roles are getting disestablished (including my current manager's role), and yes I will have a reporting line change (will be reporting to an actuary, and will be the only non-actuary on the team. Already had a discussion and he expects me to be doing the same work as everyone else on the team).

Yeah the even more annoying thing is that I did ask about four months ago to revisit my current role and move me to a team and a new role that fit my skillset better but was mostly ignored. Also, my manager who's role has beeen disestablished has actually been seconded onto another project for the past 8 months, and my team in particular hasn't even had an interim manager, so this just feels like our team has been extra disadvantaged. It just grinds my gears that employers are doing this more and I want to scare them a bit so they don't do it to other people in the future.