Legal & General seeks to reassure investors amid pension fund volatility

Pension and insurance company says it has not been a forced seller of government bonds

Legal & General, one of the UK's largest pension and insurance firms, has sought to reassure investors, days after its pension fund clients were hit by sudden interest rate rises and market volatility.

In a trading update to the stock market, the company said market volatility had increased significantly in the second half of the year, but it had not experienced any difficulties in meeting its collateral calls, and had not been a forced seller of bonds or UK government debt, known as gilts.