Merger talks between London-based brokers Jardine Lloyd Thompson (JLT) and Heath Lambert have been called off.

Heath Lambert CEO Adrian Colossi says discussions began with the aim of combining the group’s business model with the additional resources of JLT.

But as discussions continued, Heath Lambert became less confident of its ability to continue with this approach and achieve its objectives.

“Proceeding would not have been in the best interests of our staff or our clients,” he said.

Heath Lambert is now dealing with expressions of interest from Aon and Towergate. It reportedly rejected a proposal from Willis before the discussions with JLT ceased.