Giles discussing acquisition of FSJ with Lloyd's broker

Giles Insurance Brokers has confirmed it is in talks with Cooper Gay over the potential acquisition of its FSJ Broking business unit.

FSJ is a wholesale broker with 20 staff and was acquired from Heath Lambert by Cooper Gay in May 2008.

Its specialist areas include motor fleet, high hazard commercial accounts and pharmaceutical and medical malpractice business.

FSJ's management includes executive chairman Chris Butcher, executive director Chris McKnight and associate director James Denley.

Cooper Gay confirmed it was in negotiations with Giles regarding the potential transfer of FSJ. "This is the result of a strategic decision to strengthen Cooper Gay’s core focus in the international wholesale and reinsurance sector, our growing network of offices and the development of our facilities and larger corporate business," the company added.

A Giles spokesman said it would be inappropriate to comment further at this time.