Canopius acquires Omega

Specialist re/insurance group Canopius has completed the acquisition of Omega Insurance Holdings Limited (Omega).

The acquisition increases Canopius’ annualised premium income to more than £1billion.

"The acquisition of Omega represents a significant acceleration of our ambition to establish Canopius as a global and well diversified insurance group. Our premiums under management now exceed £1 billion and we are firmly positioned as a top ten business at Lloyd’s,” said Michael Watson, executive chairman of Canopius.

“However this does not curtail our ambition and we will develop further profitable growth as opportunities arise, whether organically or through acquisitions. As part of Canopius, the successful Syndicate 958 will be revitalised and have a secure and stable future. We welcome our new colleagues to Canopius."