Aon Australia will make about 70 staff redundant across the business, which it says is in response to changing market conditions.

The company says it will finalise its plans in coming weeks after consulting with staff.

“Aon Australia initiated this project in order to adapt to the changing market conditions and client need,” said a spokesman.

“The announcement has no impact on New Zealand and no jobs are being taken offshore.”

The announcement comes after industry rumours, reported in insuranceNEWS.com.au earlier this month.

Chairman Steve Nevett and the Aon Risk Solutions management initiated the project, and a statement from Aon says the aim “is to offer clients more relevant and meaningful services and solutions, and to offer our people clearer roles that will drive improved career opportunities”.

“The focus of this project has always been on our clients and our staff, and how we can serve both of them in the best possible way.”