Shares in the world’s largest life and pensions companies have been hit for a second day following the announcement on Friday that Britain has decided to leave the European Union.

This week, the UK retail insurance sector and the London Market went through a roller-coaster experience.

Volatility has been the number one concern of insurance investment professionals struggling to squeeze a respectable return out of the low interest world we now inhabit.

Zurich Insurance Group has sold its general insurance operations in Taiwan as part of its efforts to reshape its global organisation and stem a decline in profitability.

This week, two important global surveys from KPMG and PWC respectively strongly indicated that insurers will need to be more innovative if the industry is to re-invent itself and ward off new competition.

There is no doubting that Solvency II, the new Europe-wide rule book to make sure the assets held by insurers will meet their liabilities, has already started to have an impact on how those insurance companies are investing their money.