Generali Global will stop writing non-life commercial treaty reinsurance from July 1.

David Dunnett, head of communications at the Italy-based company, said: “Non-life commercial treaty reinsurance is one particular strand of business we have decided to discontinue. It was a commercial decision.”

Generali Global Group's consolidated premium income for the first quarter of this year is £7,507,110 and its net profit is £211,705,824.

Dunnett said non-life commercial treaty accounted for a “pretty small” part of its business.

The company employs around 200 staff in London. Dunnett said it was too early to comment on whether the withdrawal would lead to any job losses in the UK but added that any changes would be “minimal”.