This will leave only Norwich Union as a provider of personal pension plans in the Island.
Islanders investing in personal pensions will therefore be forced to do business with Norwich Union.
Zurich withdrew their pension products from Guernsey some time ago, but there is more scope there for personal pension investment because a trust scheme for individuals is in operation.
A similar scheme exists in Jersey, but only for companies.
The managing director of Rossborough Financial Services, Charlotte Guillaume, said: ‘Zurich’s withdrawal is going to cause problems.
It leaves Islanders vulnerable to Norwich Union, which, after all, is a commercial institution.
