SHARES in life assurer Capital Alliance shed over 20% in early trade on Tuesday on the back of disappointing full-year results released late on Monday. At just before 10am the counter was down 23,18%, or 335c, to R11,10, with 662401 shares changing hands. The fall in the share price far outpaced the life assurance sector, which was down 0,05%. “The company’s new business profit margins are below market expectations,” said one analyst. The benchmark All-share index was up 0,09% at 7639,7.