Zurich breaks silence on £20m Folgate deal
Explanation for decision to terminate £20m commercial business deal revealed for the first time
Zurich has finally moved to explain its decision to terminate its £20m book of commercial business with Folgate.
Until now the insurer has remained tight-lipped over the circumstances surrounding the break-up, however, Dave Smith, head of market management, for UK Zurich Commercial told Insurance Age that the decision to sever commercial ties with Folgate was a purely financial one - which was entirely objective and consistent with Zurich's broader distribution strategy.
"This was not an isolated
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