Insurance stocks plunged today as the FTSE 100 dropped 3.43%, its lowest level in 11 months.
Allianz was down 2%, RSA fell 5.37%, Aviva fell 4.1% and Zurich descended 3.9%.
The sell-off in equities has been sparked by fears from economic and manufacturing data that the world will fall once again into a recession.
There are also real fears that both Italy and Spain will need a bailout, as interest demanded on debt remains dangerously high.
Bankers and miners led the fall as Lloyds plummeted 10% and Barclays and RBS shed 8% and 7% respectively.
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