Share values at the UK’s largest life and pensions companies have crashed following the vote to leave the EU.
As at 10am Aviva’s share price is down 19 per cent, Legal & General is down 17 per cent, Standard Life is 16 per cent lower and St James’s Place is 15 per cent down.
Hargreaves Lansdown is down 12 per cent and Prudential and Phoenix 10 per cent.
Old Mutual stocks fell 6 per cent.
The Leave campaign took 17,410,742 votes to the 16,141,241 votes for Remain, marking 52 per cent in favour of Leave and 48 per cent for Remaining in the EU. The vote will end the UK’s 43-year membership of the EU.
The FTSE100 initially dropped 8.7 per cent but has recovered and is now down 4 per cent on yesterday, at 6,078.