It looks like insurer Hiscox is getting a nice Christmas present.
Global index provider FTSE Russell has confirmed that two firms, including Hiscox, are joining the FTSE 100 Index effective December 24. The insurance company and Spirax-Sarco Engineering are replacing Just Eat and Royal Mail, who are both heading to the FTSE 250.
The announcement comes following the indexes’ December 2018 quarterly review, and also a month after the Bermuda-headquartered group reported higher gross written premium (GWP) overall and across its retail, London Market, and reinsurance segments.
Hiscox saw its total GWP rise 14.3% to more than US$3 billion in the first nine months of the year to September 30.
Meanwhile the FTSE 250 will see departures from the likes of the AA and Thomas Cook Group.
