Insurance Shares Suffer Pounds 1.6bn Loss [Scot Region Edition 2]

Daily Mail › February 17, 2009

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Summary

THE insurance sector saw more than Pounds 1.6bn wiped off its value as the banking crisis begins to infect the wider financial sector.

Fears that Lloyds Banking Group could follow Northern Rock and Bradford & Bingley into full government ownership raised concerns that insurers might be left holding worthless debt securities sold by the banking sector.

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Insurance Shares Suffer Pounds 1.6bn Loss [Scot Region Edition 2]

Deutsche Bank estimates that the banking industry has issued Pounds 27bn of bond securities known as Tier 1 debt, w...

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