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Zurich Insurance says to cut 240 jobs in Britain

Reuters
The logo of Swiss insurance Zurich is seen at an office building in Zurich, Switzerland November 16, 2016. REUTERS/Arnd Wiegmann

LONDON (Reuters) - Zurich Insurance (ZURN.S) said on Thursday it expects to cut 240 jobs in Britain following the merger last year of its UK life and general insurance businesses into one division.

The job cuts would mainly be in back office functions, Zurich said in a statement.

"The steps we are undertaking will make us sustainable in a highly competitive market, creating a platform for growth," said Tulsi Naidu, chief executive of Zurich's UK business.

Rival insurer Aviva (AV.L) said earlier on Thursday it would also merge its UK life and general insurance businesses.

(Reporting by Carolyn Cohn; editing by Simon Jessop)