Financial stocks were edging higher premarket Wednesday, with the Financial Select Sector SPDR Fund (XLF) advancing by 0.1%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.1%.

Aspen Insurance Holdings (AHL) is in discussions to be acquired by Sompo, Insurance Insider reported, citing sources. Shares of Aspen Insurance Holdings were up more than 17% pre-bell.

Progressive (PGR) stock was 0.1% higher after the company reported that net income for July rose to $1.85 per share, from $1.38 a year earlier.

Hanover Insurance Group (THG) shares were down 0.4% after the company said it has priced a registered offering of $500 million of 5.5% senior unsecured notes due 2035.