Bridgepoint Is Said in Advanced Talks for Insurance Broker HBC

Bridgepoint Group Plc is in advanced talks to acquire a majority stake in Hanseatic Broking Center GmbH in a deal that could value the German insurance broker at around €700 million ($815 million) or more, according to people familiar with the matter.

Bridgepoint and Preservation Capital Partners, which controls the business also known as HBC, are putting the finishing touches on an agreement, the people said. A transaction could be signed in the coming days, the people said, asking not to be identified as the information is private.

Hamburg-based HBC provides insurance brokerage services for both corporates and private ...