The FTSE slipped during morning trade as insurance stocks stumbled on the news of an expected US interest rates cut.
Expectations for a cut in US interest rates were largely dashed after it emerged that the US Republican party had scored gains in the mid-term elections.
The FTSE 100 traded 0.6% lower at 4122 earlier, having reached 4,192 earlier in the session.
Aviva reversed early gains to slip 1.3% to 539, while Allianz Cornhill lost 1.9% after dropping down to 7519.
Insurance stocks received a further blow with the news that Aon is rumoured to be slipping into the red. Aon is currently down 0.3% to US£18.13 per share.
Among several gainers, Sherwood International enjoyed a 13% gain to £18.01 per share, on the back of its new service agreement with DEFRA.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
