A restructuring of the Liberty Insurance business will likely result in the loss of 70 jobs.
The company has confirmed that a consultation process with staff has begun, and 70 voluntary redundancies are expected to be the outcome.
The job losses will take place mostly at the company’s commercial and back office functions in its Cavan and Dublin offices.
Liberty Insurance’s Chief Executive, Tom McIlduff, said that “This decision is an unfortunate one but reflects the difficulties in the Irish Insurance market.
“We need to restructure our commercial division to reflect challenging market conditions.
“We will continue to be focused on our personal and commercial lines of business, and are committed to our broker and direct channels. Making these changes, while difficult will further enable us to strengthen our long term competitive position in Ireland.”