Lexicon Partners, the financial services corporate finance boutique, is advising Heath Lambert, the UK insurance and reinsurance broker, a year after the company shelved its initial public offering.

Marsh, the global insurance company, is interested in acquiring Heath Lambert in a deal which could be worth several hundred million pounds, according to press reports. It comes a year after Lexicon, Merrill Lynch and UBS lost out on IPO fees after Heath Lambert pulled its £400m (€580m) planned flotation.