Prudential has announced that it is to close its sites in Belfast, Bristol and Holborn Bars in London as part of a £40m cost-saving programme.
The move will see about 700 jobs being transferred to sites at Craigforth in Scotland, Derby and Mumbai in India although the company acknowledged that "some of those employees may choose not to relocate within the company."
The company said there would be no compulsory redundancies before the end of 2006.
Prudential chief executive Nick Prettejohn, said: "Any change that results in redundancies is regrettable.
"We are consulting with unions and staff organisations and will make every effort to ensure that our people are kept informed and helped through this difficult transition period," he added.
"These reorganisation proposals are an important step in delivering the cost savings that will enable the UK business to continue to build on the strong positions we have established across the financial services market."
