NORWICH Union has brought in a team of consultants to review the operation of its Norwich Irish building society.

The insurer has employed Price Waterhouse to complete the review and the accountants are expected to spend the next four weeks working at the building society.

They will then compile a report for Norwich Union, which is expected to suggest ways to improve the efficiency of the small building society.

Last year, consultants Coopers & Lybrand, carried out a similar review at Norwich Union, which led to the implementation of new work practices at the insurance company and the rationalisation of parts of its branch network and up to 20 redundancies.

A spokeswoman for Norwich Union said yesterday that the review was a "routine exercise. The group had "no definite plans"

for the building society at the moment, she added.

Norwich Irish is one of the smallest building societies in the Republic, with 35 staff who are employed by Norwich Union. It has seven branches.

If the insurer decided to sell it, it is believed a number of the major Irish building societies, would be interested in taking on the business. Norwich Irish has assets of Pounds 126.5 million, with deposits of Pounds 117.4 million.