Related Companies

• Highway Insurance

Related Indices

• FTSE All-Share
• FTSE Small Cap

Related Sectors

• Insurance (non-life)

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Date: Wednesday 27 Aug 2008

LONDON (ShareCast) - Highway Insurance is in advanced talks about a possible bid for the motor insurer, it admitted today following a surge in its share price.

“The board of Highway notes the recent rise in the Highway share price and announces that it is in advanced discussions with a third party that may or may not lead to an offer for the company,” it said in a brief statement.

The firm has had a tough four months after it warned in April that trading conditions had been difficult in the first months of 2008.

“Although 2008 is likely to be disappointing in terms of earnings, unless investment returns recover strongly, the board remains confident about the future prospects of the business,” it said at the time.

• News Channel