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Insurance firms' shares rally despite City watchdog inquiry

Shares in a number of insurance firms have recovered slightly since tumbling this morning after the City watchdog , the Financial Conduct Authority, announced plans to start an investigation into 30 million policies sold between the 1970s and 2000.

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Insurer: 'Disorderly market' reaction to watchdog probe

Insurer Legal & General called on the Financial Conduct Authority to bring forward details of its investigation into 30 million polices sold between the 1970s and 2000 after a "disorderly market" reaction to the announcement.

Legal & General does not outsource customer administration: our customers benefit from the continuity of a single product and service provider.

Our operating practices ensure we provide good value to our customers, and we have operated a programme of ongoing product reviews for more than 10 years.

– Legal & General

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