Both companies entered into discussions late last year

Talks between Lloyd’s insurer Sportscover and Bermudian investment firm Haverford over the sale of Syndicate 3334 and SCI Capital have broken down.

Sportscover’s main underwriting operations include Sportscover Underwriting, Syndicate 3334, Sportscover Australia, Sportscover Europe, Sportscover Insurance and SCI Capital.

Peter Nash, chairman of Wild Goose Holdings, Sportscover’s holding company, had entered into talks with Haverford chairman Mark Byrne late last year.

But in a joint statement released today by both companies they said the discussions had been terminated.

Nash said: “We had hoped for a different conclusion, but things don’t always work out as you had planned.

“We will continue to pursue our group expansion plans as usual and will look at other potential opportunities as they arise.”

Byrne added: “This is a disappointing end to what we thought was a promising discussion.”