Lloyds TSB Insurance has followed up the announcement that it is to offshore 50 jobs to India next year by reassuring staff 100 new jobs will be created in the UK in 2005.

The insurance arm of the banking giant moved to allay fears there would be any redundancies by revealing growth plans for next year.

A spokeswoman said: "Based on current business plans, Lloyds TSB Insurance expects to create more than 100 new jobs from growth and new initiatives in 2005, and this will offset the planned movements of jobs offshore during that year." Lloyds TSB Insurance currently employs around 1,500 people in the UK, with 130 jobs in India.