Liberty Insurance restructuring will see 70 jobs lost

Liberty Insurance has announced 70 jobs will go as part of a restructuring process.

The company has said it will commence a consultation process with staff, which it expects will result in 70 voluntary redundancies - primarily from the company's commercial and back office functions in its Cavan and Dublin offices.

The insurance provider has said the decision follows a strategic review of its operations.

The consultation period with workers is expected to last for 30 days.

Chief Executive with Liberty Insurance, Tom McIlduff, has said the decision is an unfortunate one but reflects the difficulties in the Irish Insurance market.

Commenting on the announcement, Tom McIlduff, Chief Executive, Liberty Insurance, said: “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.”