Insurance company set to axe 77 jobs at three bases including Port Solent and Eastleigh

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A TOTAL of 77 jobs are at risk at an insurance company.

Ageas Insurance are proposing to make the number of cuts across its underwriting, claims and broker distribution teams in Port Solent, Eastleigh and Gloucester.

In a letter addressed to employees on Wednesday, the company stated that the decision was due to its expense base being ‘simply too high to compete effectively against the best.’

No specific details have been disclosed for the specific teams other than the launch of a formal 30-day consultation period with a decision on the cuts to be made by the middle of April.

The letter read: ‘This is a tough decision and one we’ve not taken lightly, because insurance will always be a people business and we know this affects people’s lives.

‘We recognise the very considerable efforts made by all of you to deliver our products and services. We’re very proud of what we provide to our brokers and customers, and we will make sure that they are not affected.’

A spokeswoman for Ageas said: ‘We can confirm that we have entered a consultation with some of our employees.’