Berkshire Hathaway's plan to consolidate the Lloyd's insurance market could be resurrected in September, market sources said.
The source said: "Buffett has a huge reputation in the Lloyd's and London markets for launching successful companies. He can't walk away from this - nor can Michael Wade who he was backing."
Last week Buffett's plan ran into problems when the proposed £125m float of Michael Wade's Capital Insurance on the Alternative Investment Market (AIM), which would have acquired Lloyd's managing agent Euclidian, was postponed.
Berkshire Hathaway was set to take a £31.25m stake in the company when it floated.
A source close to the deal said there were doubts as to whether the float would go ahead due to reluctance from UK backers to invest in the company.
It is understood that two Lloyd's managing agents, with one of them understood to be SVB, have been in talks with Euclidian about a possible takeover or merger.