Ms Blanc became the first ever woman chair in the 100 year history of the ABI nine months ago.

Zurich announced last night that Ms Blanc, a former chief executive at AXA, had tendered her resignation as CEO EMEA and bank distribution and as a member of Zurich’s group’s executive committee.

The Association of British Insurers said today that as the role of chair required the incumbent to be a serving executive in financial services Ms Blanc would also stand down from her role as ABI chair.

Mario Greco, Zurich’s group chief executive, said: “We appreciate Amanda’s contributions during her time with us, in particular as we drive innovation throughout the business and introduce an enhanced culture of service for our customers. Our business in EMEA is performing well under the strong leadership of our country CEOs.”

Zurich Insurance Group employs 54,000 employees worldwide and is one of the largest financial services groups in the world.

The ABI said that “given it is long-standing ABI practice that the board chair is a serving industry CEO, Amanda Blanc is also stepping down as ABI board chair with immediate effect.”

Huw Evans, director general of the Association of British Insurers, said: “Amanda has been an excellent ABI chair over the last year; energetic, committed and focused on the issues that matter the most. I hope she will continue to play a prominent role in the leadership of our industry over the years ahead.”

Ms Blanc succeeded Andy Briggs, chief executive of Aviva UK. It is not yet clear who will succeed her as ABI chair.

At the time she became ABI chair Ms Blanc said: “I’m delighted and honoured to become the next chair of the ABI and the first woman in this role.”