Nikko Principal Investments Ltd., a unit of Japan?s third-largest securities company, said it will meet Goshawk Insurance Holdings Plc?s investors to test support for a bid for the UK reinsurer. Nikko, owned by Tokyo-based Nikko Cordial Corp., said an offer is dependent on Goshawk?s board entering ?constructive discussions? and providing more information about the company, according to a statement on the Regulatory News Service. Goshawk rebuffed an approach from Nikko two weeks ago.

?The current management at Goshawk are making a decent going of things,? said Shore Capital analyst Eamonn Flanagan in a telephone interview. Flanagan has a ?buy? rating on the stock. Still, ?any bid between 55 pence and 60 pence a share would attract strong interest,? he said.

Goshawk specialises in marine and property reinsurance at its Bermuda-based Rosemont Re unit. The company stopped selling policies at Lloyd?s of London last year after Lloyd?s rejected its proposal to write new business without injecting new funds.

Nikko said on September 30 it made an ?initial approach? to Goshawk about a possible cash offer.