Hiscox surges as Sompo, Generali said to be interested in takeover

Hiscox surged on Monday following a report that two rivals are considering takeover bids for the insurer.

According to Insurance Insider, Japan’s Sompo and Italy’s Generali are circling Hiscox.

At 1225 BST, Hiscox shares were up 11% at 1,244p. Peers Beazley and Lancashire also gained, up 3.1% at 3.4%, respectively.