Insurance shares took a hammering as the longest sustained fall in the stock market sent equities plummeting in value.
By just after midday, the FTSE index of 100 leading companies was heading down, at 4,291.8, towards a four-and-a-half year low of 4,233.3.
The index has fallen about 800 points since the terrorist attacks in the US.
Insurers have been among the firms to suffer most as investors fear the effects of the enormous costs they will be left facing.
By early this afternoon, Royal & SunAlliance shares had fallen nearly minus 13%, on top of smaller declines in their value over the past few days.
The price of CGNU's shares had fallen nearly minus 9%, again coming after days of mainly downward movement.
Reinsurer Munich Re's share price was down by minus 7.53%.
