Industry & Business

Liberty Insurance officials plan to cut 70 jobs in Dublin due to office redundancies.

In 2011, the US based company, Liberty Mutual, bought Quinn Insurance which employed 2,700 people when it was in its prime.

The company plans to realign commercial insurance in order to make changes that will allow them to break even financially.

After a strategic review of operations, they found that the company needed to focus on higher performing segments.  This review also highlighted other difficulties in the insurance sector such as market volatility, increasing claims and the excess capacity for commercial liability.

As a first step they plan to have a consultation with their employees, which is expected to last around 30 days.