Goshawk has revealed it could be up for sale, after this morning's profits warning knocked 22% off its market value.
The company has been dragged down by the poor performance of its Lloyd's Syndicate 102, which in turn has been hit by the collapse of The Accident Group.
Chief executive Chris Fagan said that no one had yet registered an interest in the business, but added: "There are common shareholders to most of the companies across the sector and they would encourage some consolidation."
He added that following this morning's profits warning, Goshawk was forced to, "very carefully look at ways to maximise value".
He said: "That's why we have appointed Dresdner Kleinwort Wasserstein (as adviser) to help us consider all the options, one of which might be an approach from someone else.
"There are common shareholders to most of the companies across the sector and they would encourage some consolidation."
