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Omega

Reinsurance

"Spencer-Arscott to keep seat on OSIL board after merger"

Reinsurance industry veteran Robin Spencer-Arscott will continue to serve as a director of the company now known as Omega Specialty Insurance Ltd (OSIL) after its proposed absorption by the Tower Group, the company has announced. Mr Spencer-Arscott s...
Feb 01, 2013
Reinsurance

Canopius joins £1b premium club on acquiring Omega

Canopius Group Ltd has joined the £1 billion premium club with the completion of its acquisition of Bermuda-based Omega Insurance Holdings Ltd. The acquisition was completed on Monday, thereby clearing the way for Tower Group’s takeover of Canopius B...
Aug 23, 2012
Reinsurance

"Omega-Canopius deal set to be inked today"

Insurer Canopius Group Ltd has cleared all the regulatory hurdles necessary to complete its acquisition of Bermuda-based insurer Omega Insurance Holdings Ltd — in turn clearing the way for Tower Group’s merger with Canopius Bermuda. Omega said in a s...
Aug 20, 2012
Reinsurance

"Canopius acquisition of Omega delayed"

Bermuda-based Omega Insurance Holdings has announced that its acquisition by Canopius Group will be completed by the end of August — a month later than originally planned. It says that it has made significant progress in satisfying all the regulator...
Jul 30, 2012
Reinsurance

"Omega board agrees to Canopius offer"

The board of Bermuda-based Omega Insurance Holdings Ltd has agreed to a £164 million ($265 million) takeover offer from UK insurer Canopius. The two companies announced yesterday that the Omega board had agreed to the Canopius offer, which amounts to...
Apr 26, 2012
Reinsurance

"AM Best affirms Omega rating, downgrades subsidiary"

AM Best has downgraded and withdrawn the credit ratings of Omega Specialty Insurance Company Limited (OSIL), a subsidiary of Bermuda-based Omega Insurance Holdings. OSIL, which has stopped writing third-party business, saw its financial strength rati...
Apr 11, 2012
Reinsurance

"Omega board focused on finding a partner, says director"

Omega Insurance Holdings directors are fed up with the speculation swirling around the company’s future and remain focused on finding partners who can take the company forward. That is the view of Robin Spencer-Arscott, a board member of the Bermuda-...
Apr 10, 2012
Reinsurance

"Canopius seeks to take over Omega"

Bermuda-based Omega Insurance Holdings has confirmed it has received a takeover approach from rival Lloyd’s insurer, Canopius Group, for 65 pence per share in cash, which is lower than its initial offer of 83 pence per share made last September. Cano...
Apr 04, 2012
Reinsurance

"Omega loss widens to $94.7m"

Bermuda-based Omega Insurance Holdings took a huge hit to their bottom line in 2011, recording $85.6 million in catastrophe losses citing significant impact of natural disasters and “frustrating” corporate activity, having rejected several takeover b...
Mar 07, 2012
Reinsurance

"Haverford walks away from Omega deal"

Mark Byrne’s Haverford (Bermuda) Ltd has formally walked away from a deal to acquire a 25 percent stake in London-listed Omega Insurance Holdings Ltd. Talks failed when the two parties could not come to an agreement on the share price. Mr Byrne, the ...
Dec 24, 2011
Other

"Omega board wants no more deal discussions with Haverford"

Bermuda-based Omega Insurance Holdings Ltd says its board wants no further deal discussions with suitor Haverford Bermuda Ltd after it rejected a new offer from Mark Byrne's company for a 25 percent stake in Omega. Omega said it also disputed Haverfo...
Dec 16, 2011
Reinsurance

"Byrne pursues new deal with Omega"

Mark Byrne’s Haverford Bermuda Ltd is continuing its effort to buy a 25 percent stake in Bermuda-based Omega Insurance Holdings Ltd with an offer of 74p per share, The Royal Gazette has learned. A source close to the negotiations said yesterday the f...
Dec 15, 2011
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