The burden of proof that it was Christ had rested with the women and any premium on the insurance was donated to charity, said Mr Burgess.
The siblings had paid £100 annually since 2000. If they had secured a payout, they stood to receive £1m.
He added: "The Catholic Church is up in arms about what we've been doing. We have withdrawn the cover because it was causing a furore.
"The three ladies have been informed."