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Royal London tumbles down PressWatch table

Royal London Insurance&#39s positive national media coverage plummeted in

July following its fine by the FSA for misselling of investment products,

according to PressWatch Financial Products.

Royal London dropped 362 places in the main table to 494th position from

132nd in June, putting it third from bottom just above Indepen-dent

Insurance and Equitable Life.

Nationwide held its top position on the back of positive coverage for its

mortgages and credit cards.

The only blip was the ann-ouncement of the departure of chief executive

Brian Davis, which prompted rumours of unease on the mutual&#39s board over

its mortgage policy.

PWFP says the FSA came under attack for its handling of the Equitable

crisis and admitting to making mistakes.

In the investment trust table, PWFP says Foreign & Colonial easily

maintained its position at the top, winning plaudits from IFAs, including

Hargreaves Lansdown head of research Mark Dampier.

PWFP says the sheer quantity of mentions kept Friends Provident at the top

of the life insurance league.

Standard Life and Norwich Union benefited from being inundated with

recommendations in the wake of the Equ-itable Life scandal from pun- dits

such as Chase de Vere&#39s Anna Bowes.

Once again, Bowes was the pundit with most mentions and Torquil Clark was

the most quoted firm, followed by Chase de Vere and Har-greaves Lansdown.

PressWatch sales director Tim Crane says: “Royal Lon-don&#39s position is by

no means unique but typifies the uncertainty and ugliness dogging the life

industry.”

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