TD Insurance is creating more than 275 jobs at its Saint John Client Service and Claims Response Centre by December 2016, Premier David Alward announced on Tuesday.

More than 120 full-time positions at the Rothesay Avenue centre have already been posted on the TD website, officials said.

They declined to discuss salary ranges.

Some of the jobs will be transferred from the office in Peterborough, Ont., which is being phased out and consolidated in Saint John, they said.

The exact number is still being worked out because employees in Peterborough are being given the option of relocating.

Premier David Alward at TD Insurance jobs announcement

Premier David Alward said working with partners like TD Insurance is part of his government's plan to rebuild the economy. (Susan King/CBC)

"Financial services are among the fastest growing sectors in New Brunswick and we are pleased TD Insurance has chosen Saint John to expand its operations," Alward said in a statement.

“Working with strong partners like TD Insurance is a key part of our government's plan to create jobs and rebuild the economy," he said.

The provincial government will invest $2 million in a payroll rebate, Alward said.

The new jobs are expected to contribute about $40 million annually to the province's gross domestic product once all of the positions are filled, officials said.

A third floor will be added to the existing centre to accommodate the new inbound calls staff.

The announcement was made at news conference at the TD Insurance Client Service and Claims Response Centre about 4 p.m.

However, Alward announced the job figure in the legislature earlier in the day.

Frank McKenna, the deputy chairman of the TD Bank Group and Kenn LaLonde, the president and chief executive officer of TD Insurance, also participated in the announcement.

TD Insurance offers a wide range of products to help protect customers including credit protection, auto, home, health, life and travel insurance.