HUNDREDS of jobs are set to be cut at a major Hampshire-based insurance firm as it looks to streamline its operations.

Zurich, which has a UK head office in Whiteley, plus 19 others across the UK has announced 240 redundancies.

It is expected the roles will be cut in back office and non-market facing roles, which includes finance and marketing. The firm says “a small proportion” of the jobs will be lost at it’s Hampshire base.

Redundancies are part of Zurich’s plans to bring life and general insurance together under a single management team.

The cuts were announced this week after the end of a month-long consultation period with employees and stakeholders.

A statement from the company said: “Our new simpler UK structure mirrored work under way across Zurich Insurance Group to reshape the business for future success and strengthen customer relationships.”

Tulsi Naidu, Zurich’s CEO of UK operations, said: “This integration does mean the removal of some roles from the UK business. Making these decisions is never done lightly, but the steps will make us sustainable in a highly competitive market – creating a platform for growth.’ These latest redundancies follow a trend for the firm.”

In 2015 Zurich cut 56 posts at it’s Whiteley offices as part of previous restructuring.

Zurich is the second insurance firm to announce redundancies within a week.

Ageas at it’s Eastleigh and Port Solent bases is to shed 77 roles in it’s underwriting, claims and broker distribution teams.