Report: Aviva review raises fears for 500 jobs

The Aviva Insurance company has said it is too early to speculate on the final outcome of a review of its business in Ireland.

It comes as reports suggest that at least 500 positions are under threat, as the firm looks to restructure its European business.

Aviva Ireland employs about 2,000 people, with most of the positions based in Dublin, but it also has smaller operations in Galway and Cork as well as branch offices around the country.

Three years ago, when the firm was known as Hibernian, it transferred more than 500 jobs from Ireland to India, and now it is moving its holding company for its European HQ from Dublin to London.

A question mark now hangs over the future of at least 500 workers, but Aviva has said a final decision on "the various options being considered to ensure sustainability" won't be made until next month.

The company raised its health insurance premiums by 14% in recent months, but while profits at its health division have been rising, sales in its life and pension division dropped by 17% last year.