Lambert Fenchurch merged with Heath Group in November 1999 and the company is now called Heath Lambert Group.
Fee and commission income (1998):
Pre-tax profit (1998):
Tel: 020 7560 3000
Fax: 020 7560 3502
David Margrett, chief executive
Lowndes Lambert originated 150 years ago in the coal factoring business, which developed into shipping and insurance broking.
The insurance broking business expanded steadily and in 1968 was acquired by Hill Samuel.
It was merged with the general insurance business of Noble Lowndes which, together with the business of L Hammond and Architects & Professional Indemnity Agencies, created the Lowndes Lambert Group.
Richard Shaw joined the group in 1979 as chief executive and carried out a major reorganisation. He was succeeded as chief executive on his death in 1995 by David Margrett. During the 1980s, the group grew both organically and through acquisition, including PW Kininmonth Group and the business of Knott Becker Scott.
In 1988, management, together with institutional investors, effected a buy-out of the group.
The group progressed rapidly with further growth and a number of acquisitions including the Chandler Hargreaves Group and the Australian broking interests of Bain Clarkson.
The group was successfully floated on the London Stock Exchange in 1991 and has since continued to grow and undertake further acquisitions: Crowley Colosso, Jeffrey Coates, the insurance broking division of Norex, the Whitely Henshaw Hindle Group, Godfrey Merritt Robertson and Blackwall Green.
During 1998/99, the group continued its expansion through both organic growth and the acquisition of Delta Insurance Services AB, Sweden's leading marine broker.
In addition, the group strengthened its presence in the Far East with new offices in Malaysia and Korea.
In November 1999 Heath Lambert Group was formed via a purchase of the publicly held Lambert Fenchurch Group shares with venture capital raised from the Heath shareholders and other institutions.
Main lines of business:
All classes of insurance and reinsurance broking and risk management.