Insurance stocks began to bounce back today after crashing in the wake of Tuesday's terrorist attacks in the US.
Royal & SunAlliance (R&SA) and Prudential both made up lost ground this morning, with R&SA up 4.7% and Prudential up early this morning but falling back to minus 0.85% by early this afternoon. CGNU rose 2.39%.
Allianz shares were trading up 2.86% after midday, following a drop of 14% on Tuesday.
The reinsurers Munich Re and Swiss Re rose 8% and 5% respectively.
Their recoveries come despite Munich Re announcing it was facing losses of £620bn and Swiss Re's estimate of its exposure at £490m.