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Omega increases stake in Syndicate 958

02 July 2009

Omega Insurance has increased its stake in Syndicate 958 through the acquisition of £45.7m ($74.9m) of the outstanding capacity in the syndicate not already owned by Omega.

Read more: [Omega Insurance] [Syndicate 958] [capacity]

Bermuda-based Lloyd's syndicate-owner Omega Insurance has increased its stake in Syndicate 958 through the acquisition of £45.7m ($74.9m) of the outstanding capacity in the syndicate not already owned by Omega.

Last month Reactions reported that Omega submitted a proposal to acquire additional capacity up to...


Poll

How big would insured catastrophe losses this hurricane season have to be to move reinsurance pricing up?

$0-15bn
7%
$15bn-$30bn
12%
$30bn-$50bn
38%
$50bn-$75bn
31%
$75bn-$100bn
7%
>$100bn
5%

Quote

CEOs won’t move prices until they see blood in the street and have the concern that some of it might be theirs.

Tom Bolt, director of underwriting performance at Lloyd’s of London