Jardine Lloyd Thompson Group plc, the U.K.’s largest broker, has issued a brief statement confirming that it is in discussions with the Heath Lambert Group concerning a possible offer.
JLT said the “discussions are at an early stage and may or may not lead to a transaction. The transaction, if effected, would not require an equity capital raising. A further statement will be made as and when appropriate.”
Press reports have indicated that London-based Heath Lambert could be worth around £130 million ($240 million). The broker operates in the Lloyd’s market, in the U.K. general market and internationally on both a retail and wholesale basis. It is a founding partner of HLA Global, the world’s largest independent insurance brokerage network.