Admiral insurance firm to cut 500 jobs in the UK

Image source, Getty Images Image caption, Admiral, which has its headquarters in Cardiff, said the job losses were part of its efforts to save £100m

Wales business correspondent Published 15 minutes ago Insurer Admiral will cut 500 jobs in the UK to save £100m, it has announced.

The proposals are related to Admiral's UK insurance business only, and will affect about 5% of its workforce.

"We recognise this will be a difficult time for affected colleagues," said Alistair Hargreaves, Admiral Insurance UK's chief executive .

While the Cardiff-based company uses artificial intelligence (AI) in its operations, adoption of AI is not believed to be responsible for these changes.