Shareholders may acccept 120p a share

Canopius is rumoured to be in talks to buy fellow Lloyd’s insurer Omega Insurance Holdings.

Canopius chief executive Michael Watson declined to comment, citing his company’s policy not to discuss market speculation.

The rumours suggest Omega shareholders could accept an offer of 120 pence a share from Canopius.

The speculation closely follows Omega’s announcement that its losses from September’s earthquake in New Zealand would be almost triple its initial estimates. The revised loss estimate was $16.8m, compared with the initial estimate of $6.2m.

Omega’s share price dropped to 92p in the day’s trading on Friday, but rose to close at 97.50p. The shares closed at 100p on Thursday.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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