Bermuda-based RenaissanceRe is to replace another firm in a Standard & Poors top 400 index.

The company is to take over the spot held by Lender Processing Services (LPS) in the S&P MidCap 400 after LPS was taken over by existing MidCap 400 firm Fidelity National Finance.

The takeover deal is expected to be finalised today.

RenaissanceRe provides reinsurance and insurance coverage and related services.