Too much of a good thing.

Focuses on the investment losses suffered by British insurers who put most of their assets into shares, as the shares have loss massive amounts of their value. Impact on policy-holders; Observation that the insurers' enthusiasm for equities means that they own about a quarter of the British stockmarket, as of August 17, 2002; Outlook for regulation about the way insurers invest; Suggestion that managers and investors should learn from the insurers' troubles, and invest in something less volatile than equities.