Zurich Financial Services Australia is pulling out of the rural insurance market.

The insurer has confirmed it will cease writing new rural cover as well as renewal business from December 1, but will maintain cover on existing policies.

Spokesman Rob White told insuranceNEWS.com.au Zurich’s rural insurance product is a “legacy cover” and comprises a tiny proportion of the company’s gross written premium.

“We’re always reviewing our business to ensure we focus on core products and this isn’t one of them,” he said.