Zurich breaks silence on £20m Folgate deal

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