Liberty Insurance is to cut 270 jobs from its operations over the next 18 months.
Staff in Cavan, Blanchardstown in Dublin, and Enniskillen in Co Fermanagh were briefed by management this morning.
The company expects 135 of the redundancies to be in Dublin, 115 in Cavan and 20 in Enniskillen.
The job losses will be voluntary and staff will be offered four weeks' pay for every year of service in addition to statutory redundancy.
The company employs just under 1,000 in Ireland.
It is understood that the job losses are a consequence of the decision by Liberty to pull out of the UK motor insurance market where it has been losing money.
The company has also decided to outsource its call centre in Enniskillen to a third-party company. It employs 210 and the staff will transfer to the new company.
The company said that details of these plans will be announced once a preferred partner is agreed and contracts finalised.
In a statement, Liberty International President Luis Bonell said: "Liberty Mutual remains fully committed to building a successful business in Ireland.
"In recent years, we have purchased the remaining minority stake in Liberty Insurance, announced the acquisition of Hughes Insurance and have continued to invest and create jobs in our Liberty IT division in both Dublin and Belfast.
"In the coming years, we will utilise Liberty's global expertise and resources to support our businesses in Ireland to enable their development into leading players in their respective markets."
Analysis: David Murphy, Business Editor
If you go all the way back this company was Quinn Insurance, it was bought by Liberty in 2011. At its height Quinn Insurance employed 2,700 people – so it was a very big operator.
Obviously things haven’t been going as well for Liberty as they would hoped. They have been losing significant sums of money in terms of the business they have in the UK, although that business is operated from Ireland.
As a result they have decided to pull out of that business and that’s why the job losses have been announced this morning.
Something that should be remembered is that actual cost of Quinn Insurance was €1.6bn – that is being paid by people who buy motor insurance or home-cover. There is a levy of 2% on all insurance policies sold in the state as a result of the losses at Quinn.
