London, May 16, 2026, 20:08 BST
- Hiscox closed Friday at 1,841p, gaining 12.32%. The shares rose 13.36% for the week.
- Shares jumped after a report said Canada’s Intact Financial is looking at a possible bid.
- London is closed for the weekend. The next thing to watch is if either company makes another statement before markets open Monday.
Hiscox Ltd stock started the week with a takeover premium priced in after jumping on Friday. Shares finished at 1,841p, up 202p, or 12.32%. The move followed reports Canada’s Intact Financial Corp is looking at a bid. The five-day gain landed at 13.36%, according to MarketScreener.
Hiscox traded higher even as broader London shares came under pressure. Reuters data had the FTSE 100 off 1.71% on Friday, and UK stocks dropped with investors fretting about political uncertainty, the bond market, and rising oil.
The move puts FTSE 100 insurer Hiscox at the center of a new wave of overseas interest in UK companies. Hiscox hit an all-time high of £18.90 on Friday, The Guardian reported. Tate & Lyle and Intertek were also reported as potential bid targets this week.
Hiscox shares jumped as much as 15.3% on Friday after Insurance Post reported Intact is considering a possible bid for the British insurer, according to Reuters. Intact did not comment to Reuters, while Hiscox also declined to comment.
Intact, a property and casualty insurer, focuses on non-life insurance like property, motor, liability and specialist commercial products. AJ Bell, referencing Insurance Post, reported that Intact wants to grow its commercial lines and said Intact CEO Charles Brindamour is seen as a fan of Hiscox.
Hiscox shares jumped sharply on Friday, with Insurance Age reporting the stock started at 1,640p before spiking as high as 1,890p. That move took the insurer’s market cap from around £5.2 billion to just shy of £6 billion. Insurance Age also pointed out that Intact bought RSA in 2021 and NIG in 2024.
Hiscox gave investors more governance news this week. The company said every resolution at its May 14 AGM passed, including the final dividend and a buyback authority.
Takeover chatter comes after Hiscox posted a stronger trading update. On May 7, Hiscox said first-quarter insurance contract written premiums grew 10.2% to $1.72 billion. Retail premiums jumped 15.1%, or 8.0% using constant currency. CEO Aki Hussain said Hiscox was “building on strong momentum delivered in 2025” and kept a positive view for 2026. Hiscox Group
RBC Capital Markets analysts, speaking to Alliance News, said price is central to the whole thing. RBC said Hiscox’s board probably won’t look at a deal if valuation multiples are too low. That’s down to momentum in retail, better profits, and strength across Lloyd’s and Bermuda. RBC put the number at three times 2026 forecast tangible net asset value. That comes out to 2,550p a share.
Peer review is happening as well. Beazley, a specialty insurer in London, got an offer from Zurich earlier on. Reuters said in February that Zurich’s bid might spark more insurance deals as buyers look to specialty lines.
But the risk is clear. Friday’s move could reverse if Intact does not come forward with a formal offer, if a bid misses what investors want, or if the Hiscox board sticks to going it alone. On the operational side, things are not moving just one way: Hiscox said London Market rates dropped 4% on average, with reinsurance rates down 13% in the first quarter. That points to a weaker pricing cycle, which can hit margins.
The focus this week turns away from usual earnings and toward what companies or regulators might say. Hiscox, Intact or the watchdogs could move the stock with a statement. Without any word, investors may keep trading on rumour, valuation, and how far foreign buyers will go for London insurance names.
