US insurance broker Marsh & McLennan (NYSE:MMC) is working towards a deal to acquire part of UK banking group HSBC's (LON:HSBA) insurance operations, the Daily Telegraph said on Tuesday.

According to the paper, the two parties are in advanced talks over a deal. Analysts estimated HSBC Insurance Brokers at between GBP150m (USD248.5m/EUR)166.4m and GBP200m, industry sources told the Daily Telegraph.

MMC and HSBC provided no comment, Reuters said.

Country: UK

Sector: Insurance

Target: HSBC Insurance Brokers Limited

Buyer: Marsh & McLennan Companies Inc

Vendor: HSBC Holdings Plc

Type: Corporate acquisition

Status: Speculation; Talks

((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2009 M2 COMMUNICATIONS US insurance broker Marsh & McLennan is working towards a deal to acquire part of UK banking group HSBC's insurance operations, the Daily Telegraph said on Tuesday. According to the paper, the two parties are in advanced talks over a deal. MMC and HSBC provided no comment, Reuters said. Country: UK. Sector: Insurance. Target: HSBC Insurance Brokers Limited.