Hashtag: #Omega
Omega Confirms New Offer From Canopius
Bermuda’s Omega Insurance Holdings Ltd. today [Apr. 3] confirmed it has received a takeover approach from privately-owned Canopius Group Ltd. for 65 pence per share in cash, which is lower than its initial offer of 83 pence per share made last September. Omega Insurance also confirmed that its issued share capital as at the close of business on... Read more of this article
Omega Hints At New Takeover Offer
Bermuda-domiciled re/insurer Omega has suggested that it may have received a takeover offer in a statement issued yesterday [Mar. 27]. “The directors of Omega note the press speculation concerning the company and the movement in its share price,” the stock exchange circular said. “The company confirms that it continues to review possible... Read more of this article
Omega: ‘This Has Been A Difficult Year’
Bermuda-based Omega Insurance Holdings today [Mar.6] reported a $94.7 million loss before tax for 2011, more than double the $42.9 million it lost in the previous year. The international insurance and reinsurance group also saw a 14.5% reduction in gross written premiums in 2011 to $304.6 million [2010: $356.1 million] and a deterioration in its combined... Read more of this article
Omega Rejects Latest Overture
Bermuda-based Omega Insurance Holdings Plc rejected a renewed merger offer from rival Barbican yesterday [Jan. 20] as takeover interest in the Lloyd’s of London insurer revived following a series of failed bids in 2011. Barbican’s new all-share merger “offers no improvement” on an unsuccessful cash-and-shares bid approach it... Read more of this article
New Merger Proposal For Omega
Bermuda’s Omega Insurance Holdings Ltd. was today [Jan. 20], thrust back into play as previously thwarted suitor Barbican Group Holdings Ltd. said it had made a “merger of equals” proposal to its Lloyd’s of London peer. Business website The Daily Deal reports Barbican, which is based in Guernsey, the Channel Islands, and its... Read more of this article
Mark Byrne Terminates Omega Bid
Haverford, Bermuda, Ltd. today [Dec. 23] formally terminated its bid to acquire a 25 percent stake in Omega Insurance Holdings Ltd. following the rejection of a revised partial cash offer of 74 pence per share, announced earlier this month. Omega Insurance had announced its rejection on December 15, 2011. Earlier, HBL had made a partial cash offer... Read more of this article
Haverford Makes Fresh Omega Bid
The on-again off-again effort by Bermuda’s Haverford to buy a major stake in London insurer Omega is on again. Haverford — the Bermuda vehicle owned by locally based insurance entrepreneur Mark Byrne — informed the London Stock Exchange this morning [Dec.15] that it has submitted a fresh bid for the Lloyd’s insurer according to a... Read more of this article
Canopius Appoints New CEO
Canopius Group Ltd., the Lloyd’s of London insurer owned by Bregal Capital LLP, today [Dec.15] named Inga Beale [pictured] to be its chief executive officer from next month. She will replace current chairman and CEO Michael Watson, who becomes executive chairman. Canopius — which does business in Bermuda but which launched a major Swiss operation... Read more of this article
Omega: Byrne Deal Is ‘Terminated’
Lloyd’s of London insurer Omega today [Dec.13] said it considered an offer by Haverford to purchase a 25 percent stake in the company to be terminated, insisting the Bermuda firm had not honoured its original terms. Earlier this month Haverford, led by Bermuda-based insurance entrepreneur Mark Byrne [pictured], said it wanted to lower its price... Read more of this article
Omega Insists Haverford Deal Proceed
London insurer Omega insisted this afternoon [Dec. 2] rival Haverford go ahead with a $78.4 million deal to buy 25 percent of its shares after its Bermuda suitor said the agreement was no longer valid and it wanted a cheaper price. Omega Insurance Holdings Ltd. “sees no reason why the offer would not proceed” said in a statement. Haverford,... Read more of this article
Haverford May Drop Its Omega Bid
Bermuda-based reinsurer Haverford says it may drop its bid to acquire 25 percent of London-listed rival Omega, citing a “very significant and unexpected deterioration in Omega’s financial position and prospects”. Domiciled in Bermuda, Omega last month reported a 16 percent drop in nine-month gross written premiums and raised its estimate... Read more of this article
SkyNews: Omega Set For Byrne Battle
Omega Insurance faces a battle to force Bermuda-based re/insurance tycoon Mark Byrne to honour a deal to pay £50 million to become its second-largest shareholder, Britain’s SkyNews says today [Nov. 30]. The British TV network’s business editor Mark Kleinman reports Haverford, the Bermuda vehicle controlled by Mr. Byrne, today tabled a fixed-price... Read more of this article
