DUBLIN, Aug 27 (Reuters) - Friends First, the Irish unit of unlisted Dutch insurer Eureko, will cut 147 of its 540 jobs, most at its asset finance division, it said on Thursday.
"First Finance has been significantly impacted by the global credit crunch and its business model of borrowing from the inter-bank market is no longer sustainable," it said in a statement.
Eureko, the Netherlands' largest insurer, last week posted a slight fall in first-half profit with gross written premiums declining in all of its insurance segments. (Reporting by Andras Gergely; editing by Carmel Crimmins and Rupert Winchester)