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Lloyd's of London insurers Lancashire Holdings Ltd. and Novae Group P.L.C. may be next as targets for mergers and acquisitions following the recent announcement of the sale of Brit P.L.C, Bloomberg reported.
"London market consolidation rolls on," and the "next candidate, based upon valuation, could be Lancashire," said an analyst at Switzerland-based UBS A.G. A similar view came from an official at U.K.-based Westhouse Securities Ltd. who said Novae and Lancashire “remain our other preferred M&A targets as they are easy to swallow."