Senior executives at broker JLT are thought to be planning a management buy-out, Insurance Times has learnt.

Industry sources said that JLT's management were in talks with US private equity firm Stone Point Capital about putting together a bid for the broker.

Stone Point, which is based in Greenwich Connecticut, manages Trident Funds, which has raised more than $3bn in committed capital to invest in the insurance, employee benefits and financial services industries.

Stone Point was unavailable for comment as Insurance Times went to press. JLT declined to comment.