Heath Lambert negotiates sale of wholesale business
Heath Lambert, the independent broker, is in negotiations with Cooper Gay over the sale of its general wholesale businesses.
If the talks are successful, Cooper Gay, which is a City based insurance and reinsurance broking group, will acquire Heath Lambert’s international wholesale, UK wholesale, reinsurance and aviation businesses.
Staff working in these divisions would transfer to Cooper Gay on completion of the transaction.
Adrian Colosso, Heath Lambert’s chief executive, has explained that the disposals would advance the group’s focus on its core retail activities, although the firm will be retaining niche businesses within the UK wholesale sector.
The broker has ambitious plans to expand in retail markets and expects to extend its distribution channels and open new offices in the months ahead.
The acquisition would benefit Cooper Gay in terms of increasing its geographical reach and through the integration of the skills brought by Heath Lambert staff.
In addition, Heath Lambert’s international broking business includes a strong presence in the mining sector, with clients such as Anglo American, Harmony Gold and Rainbow Minerals.
It is understood that discussions between the parties are still at an early stage.
Category: Heath Lambert News, Insurance News
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