Essex

Insurance company Equity Red Star to cut 200 posts in Essex

Insurance firm Equity Red Star is to cut 200 jobs at its offices in Brentwood and Colchester in Essex.

Both offices will remain open but with reduced workforces while 70 posts will move from Essex to Swansea in Wales.

A spokeswoman for the firm said the company wanted to "refocus" on specialist vehicle insurance.

It aims to concentrates on insuring classic cars, commercial vehicles, kit cars, motorcycles and agricultural vehicles.

"Poor financial results in recent years, stemming from an overcrowded UK mass motor market dominated by the price-focused comparison websites, have driven this decision," she said.

She added that the company aimed to consolidate key offices in Brentwood, Colchester, Swansea and London.

The Colchester workforce will be cut from 300 to 200, while the Brentwood workforce goes from 440 to 330.

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