Insurer Hiscox is set to move 300 jobs out of London as it seeks to boost its presence outside the capital.
The firm, which rose into the FTSE 100 last year before dropping out, will slowly move staff over the next two or three years to existing locations in Colchester, York and a new office in a major city yet to be decided.
The company, which sponsors youth cricket, is due to move into new premises at 22 Bishopsgate.
A spokesperson said: “Before moving into new premises, we have taken the opportunity to review our UK footprint in order to shape our UK-based activities for future growth.”
Over 700 roles are set to remain in London. It already has around 750 people around the country.
It has been based at 1 Great St Helen’s in the City's insurance district for the last 22 years.
The Bermudan-headquartered company is led by Bronek Masojada.
It fell back into the FTSE 250 last year after entering the elite index following a share price rally.
