L&G shares surge on Zurich bid rumour

As at 13.00, the insurer's shares are up 2.95%, or 2.75 points, to 96p on the FTSE100. Shortly before 11am, more than 14 million Legal & General shares had changed hands. The speculation comes amid a frantic period of merger talk hitting the insurance industry, with Aviva's share price soaring yesterday on the back of rumours French peer Axa was lining up a bid for its general insurance arm. This followed Aviva's rejection of a bid from RSA for this part of the business, on the grounds its smaller rival had undervalued the unit.   The sector has also been buoyed by consolidation ve...