CNA Re has closed four of its offices worldwide.
The news comes following an announcement last month it would sell its London division.
Managing director of CNA Re's London operation, Stephen Riley, said: “CNA Re have decided it would not be viable to operate branches as it previously hoped.”
Its headquarters in Zurich, Amsterdam and Singapore, plus its contact office in Milan, are now being wound up.
Together they employ approximately 30 staff and business will be transacted from the US.
Riley added CNA Re's is now in negotiations with a “handful of highly rated entities in the business” to sell on its London subsidiary, which has 130 staff.
He said they were currently analysing information on the company and its portfolio and hoped to make an announcement by the end of the year.
