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Heritage receives more offers

LONDON (Reuters) - British insurance company Heritage Underwriting Agency said yesterday it had received other approaches since Bermuda-based Ironshore Inc said on January 18 it was no longer interested in making an offer.

Lloyd's of London insurer Heritage said the new discussions were at a preliminary stage. It added speciality insurance company Ironshore's earlier indicative approach had significantly undervalued the company.

Heritage said no confidential information was exchanged with Ironshore.

Interest in Heritage follows Japan's Millea Holdings Inc's purchase of fellow Lloyd's insurer Kiln for £442 million ($867.8 million) in cash.

Millea said the deal would enable it to offer commercial insurance and reinsurance in the UK, United States, Europe and Asia.