Amlin's fall from FTSE 100 leaves no Lloyds insurers in index

If you are writing on today’s quarterly FTSE reshuffle which will see Amlin move from the FTSE 100 to the FTSE 250, please consider the following comment from business and financial advisers BDO LLP.

Kirstie Gordon, Insurance Specialist within BDO Financial Services Group says: “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,” continues Gordon.

“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,” she concludes.

ENDS

For more information, please contact Dee Crooks at BDO on 020 7893 2761 / 07815 172 051 or email dee.crooks@bdo.co.uk

Notes to editors:

BDO LLP operates across the UK with over 3,000 partners and staff. BDO LLP is a UK limited liability partnership and the UK Member Firm of BDO International. BDO international is a world-wide network of public accounting firms, called BDO Member Firms. Each BDO Member Firm is an independent legal entity in its own country. The network is coordinated by BDO Global Coordination B.V., incorporated in The Netherlands, with its statutory seat in Eindhoven (trade register registration number 33205251) and with an office at Boulevard de la Woluwe 60, 1200 Brussels, Belgium, where the International Executive Office is located. In the UK the Belfast Firm is operated by a separate Partnership known as BDO - Belfast.

BDO LLP and BDO - Belfast are both authorised and regulated by the Financial Services Authority to conduct investment business.

BDO is an award winning firm.  Recent achievements include:

Best Workplace UK - Financial Times 2008
Audit Team of the Year – Accountancy Age Awards 2008
Tax Team of the Year – Accountancy Age Awards 2008
Corporate Finance Deal of the Year – Accountancy Age Awards 2008
100 Best Companies to Work For - The Sunday Times 2008
The Women of Achievement Award –  Women in the City 2008
Business Superbrand - Business Superbrands 2008