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The news today (24 June) follows L&G's earlier announcement in May that 300 full-time staff and 260 part-time staff, including temps, had been earmarked for redundancy.

This in itself followed the announcement in February that 450 redundancies were also to take place across the company's support staff.

It is expected that the latest round of job cuts will be mainly in Cardiff, Hove and Kingswood, Surrey.

The UK risk division covers protection and annuities. Legal & General has previously said that 10 per cent of its life and pensions staff would be shed this year.

A spokesman for the company said: "Legal & General has entered into consultation with collective representatives over potential redundancies within its UK Risk division.

"We will keep any potential redundancies to a minimum and will try to find suitable alternative employment for staff affected.

"Potential redundancies are being by driven operational efficiencies and changing business demand.”

However, union Unite was quick to announce that it would fight any compulsory job losses.

Rob MacGregor, Unite national officer, said: "Further job losses in the financial services industry come as a bitter loss.

"News that Legal & General is to cut 200 staff predominately from Cardiff and Hove, as well as other sites, will be a heavy blow. The staff working in the finance sector have already in 2009 seen over 20,000 job losses.

"Job losses at these important Legal & General sites will really hurt the communities in Wales and Brighton.

"Unite will now argue strongly against any compulsory job losses and fight to get the best possible solution for those workers who are affected."