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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Canada's Intact Financial said to explore bid for Hiscox, shares surge

(Sharecast News) - Hiscox surged on Friday following a report that Canada's Intact Financial is exploring a potential bid ⁠for the insurer. According to Insurance Post - which cited sources at the British Insurance Brokers' Association - Intact ‌is ⁠looking at a big target and its CEO is known to be a fan of ​Hiscox, having ​spoken ⁠highly of it in the past.

At 1430 BST, Hiscox shares were up 12.3% at 1,840p.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.