The company employs about 100 people at its Sevenoaks office

Swiss Life UK, which is based in the town, has announced it is to stop selling individual life insurance policies.

It follows the failure of the firm's Swiss parent company to sell the British part of its business, which could lead to as many as 200 positions being lost across the UK.

The news comes only a month after another insurance company, NPI, announced that about 500 jobs were under threat at its base in nearby Tunbridge Wells.

Almost 750 people are employed by Swiss Life UK in Britain, with about 100 of those based in South Park, Sevenoaks.

Staff consultation

The firm said a staff consultation exercise would now take place. The job losses will be announced in November and staff given three months' notice.

Swiss Life UK announced last week it would axe 200 jobs at its UK headquarters in Liverpool.

Brian Hurd, the UK managing director for Swiss Life, said the news was disappointing for the firm.

He said: "We are now entering a period of consultation with our staff, during which we shall fully comply with our obligation to inform and consult them over the development of our future plans."

Existing policy holders with the company have been told the job losses will not affect them, and claims will still be paid.