Canopius completes Omega acquisition
by Richard Kilner
Story link: Canopius completes Omega acquisition
Specialist (re)insurance underwriting business Canopius Group Limited has announced that it has completed the acquisition of Omega Insurance Holdings Limited. By acquiring Omega Canopius had significantly expanded its global presence, as well as increasing annualised premium income beyond the £1bn milestone. Omega, a UK-listed, Bermuda-domiciled insurance and reinsurance group, operates from Lloyd’s, via Syndicate 958, [...]
Omega posts $42.8 million loss
by Gill Montia
Story link: Omega posts $42.8 million loss
Bermuda-based insurer and reinsurer, Omega, has reported a loss of $42.8 million for 2010, compared with the previous year’s profit of $43.6 million. Gross premium income for the year stood at $356.1 million (2009: $265.8 million) but the firm suffered a loss ratio of 84.4%, compared with 49.3% in 2009. Omega points out that 86% [...]
Omega sees profits rise 67%
by Richard Kilner
Story link: Omega sees profits rise 67%
International insurance and reinsurance group Omega Insurance Holdings has reported its annual results for 2009. The firm recorded pre-tax profits at $47.1m, a rise of 67% on 2008′s $28.2m. Net profits almost doubled year-on-year, with $43.6m being made in 2009 compared to $22.2m previously. Omega will be pleased to have bounced back from 2008, when [...]
Omega floats on LSE Main Market
by Gill Montia
Story link: Omega floats on LSE Main Market
Omega has reported that it is now one of seven non-life insurers on the Main Market of the London Stock Exchange, with a market capitalisation of £310 million. The Bermuda-based firm, which was previously AIM listed, raised £130 million in January and last week doubled its stake in Lloyd’s Syndicate 958. The Syndicate has an [...]
Omega profit down 56%
by David Masters
Story link: Omega profit down 56%
Omega Insurance Holdings Limited has posted its financial results for 2008, with profits down 56% on year. Profit for the fiscal year ending 31 December 2008 was $22.21 million, or $0.14 per share, compared to $50.54 million, or $0.33 per share, in 2007. Pre-tax profit was $28.22 million, down from $59.48 million the previous year. [...]
Omega reports $25m H1 profit
by David Masters
Story link: Omega reports $25m H1 profit
Omega Insurance Holdings Ltd has reported its first half results, posting a pre-tax profit of $24.5 million on revenues of $118.7 million. The Lloyd’s of London insurer reported profit after tax for the six months ending 30th June of $21.78 million, or $0.14 per share. This is a 34% increase compared to the first half [...]
