Heath Lambert's Dallas, US-based unit has completed a management buy-out and separated from the London-based Heath Lambert Group.
The wholesale and speciality lines broker, Heath Insurance Brokers, finalised the buy-out arrangements last week, said a spokesman.
The company said no management, staff or location changes would follow the split form the group. It will continue to operate from its corporate headquarters in Dallas.
The company had 14 offices throughout the US, and said it had placed nearly $1bn in gross written premiums in 2003, said a report.
