Ace is set to become the only insurance partner of Lord's Cricket Ground.

Earlier this week, the MCC announced that Deutsche Bank would become the first Lord's partner under a scheme to recruit a limited number of partners from different business sectors.

An Ace spokesman said: "Ace is looking to enter into a partnership agreement with Lord's. We hope to be able to finalise it soon."

A spokesman for the MCC confirmed that Lord's was looking for an insurance partner.

In return for an annual six figure payment, Lord's partners will be able to use the ground and its facilities for corporate hospitality and advertising purposes during the cricket season. They will also be able to use it for business meetings, product launches and other promotional events throughout the year.

The deal follows the recent announcement by Brit Insurance of its sponsorship of the Surrey County Cricket Club and the Oval.