Lloyd's insurer out after share price plummet
Amliln has crashed out of the FTSE 100 after its share price plummeted.
Kirstie Gordon, insurance specialist within BDO Stoy Hayward Financial Services Group said: “Today’s reshuffle will leave no Lloyds insurers in the FTSE 100.
“The timing of Amlin's announcement of a placing of 23.5million shares to fund the purchase of Fortis Corporate Insurance (FCI), and the subsequent significant fall of its share price, has led to the insurer being unable to maintain its position in the list of Britain's 100 largest companies.
“However, it’s not all doom and gloom for the insurance giant, as it looks set to benefit from an upward trend in insurance and reinsurance pricing, which suggests that a move back into the FTSE 100 could not be all that far away.”
