A leading insurer is set to close a major Kent office with the loss of around 125 jobs.

Allianz Insurance has announced the proposed closure next year of its Tunbridge Wells office after more than 20 years in the town.

The operation in Vale Avenue issues a wide range of insurance products, including payment protection and extended warranty sold through larger retailers. It does not sell directly to the consumer from the Tunbridge Wells office.

The majority of roles will be moving to Brentford and amalgamated with Allianz’s animal health division. Other jobs will go to Guildford and Bristol, and a few will be switched to home working.

The company says that around 125 employees, who will now take part in a statutory consultation exercise, will be affected by the changes.

All staff will be offered roles in the new locations but the company warned that "inevitably there will be a number of redundancies". Some may find new jobs at Allianz’s office in Fairmeadow, Maidstone.

The company says that the move has nothing to do with the credit crunch or economic downturn but is part of a wider re-structuring of the firm’s retail division "to meet the changing demands of its customers and increase operational efficiency, effectiveness and competition".

John Dye, general manager of Allianz Retail Division, said: "We will do everything we can to minimise the impact of these changes on our people and will seek to find suitable alternative employment for those affected."

Allianz Insurance is part of the Global Allianz Group, a giant provider of financial services in more than 70 countries world-wide and serving some 80 million clients.