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LONDON—Arthur J. Gallagher & Co. is in talks to acquire Lloyd’s of London broker Heath Lambert Ltd., according to a published report.
London’s Telegraph newspaper reported Sunday that executives of Arthur J. Gallagher International, a unit of Itasca, Ill.-based Gallagher, were in takeover talks with Heath Lambert executives. The newspaper said the parties were approaching the “final stages of a deal” and announcement of the acquisition could come as early as this week.
Last year, Gallagher acquired the insurance brokerage business of London-based broker FirstCity Partnership Ltd.
In June 2008, Heath Lambert sold its general wholesale and reinsurance operations to London-based Cooper Gay & Co. Ltd. A year later it restructured its retail units into one division.
“We do not comment on market speculation,” a spokesman for Heath Lambert said in an email responding to a request for comment on the report.
“It is Gallagher’s policy to never comment on market rumors,” said a company spokeswoman.
LONDON—Arthur J. Gallagher & Co. will acquire London-based Woodbrook Underwriting Agencies, Gallagher announced Wednesday.