Zurich Personal Services has become the second insurer this year, after Allianz Cornhill in March, to quit the £100m motorcycle market.

Zurich said it will stop writing motorcycle business for its current 40,000 policyholders under its Eagle Star brand from June 1.

The insurer earned £8m from the account last year but said it was concerned it was not making significant enough in-roads into the £100m market. The account's potential profitability was also a factor in its decision to quit, said Zurich spokesman David Swann.

Allianz Cornhill said it would handover the bulk of its 30,000 motorcycle policyholders to NIG from March 1.