Profits up 20%
Omega Insurance Holdings saw profits soar in the first half of the year, the company reported today.
The insurer reported pre-tax profit of $24.5m in the first six months of the year, up 20% compared to the first half of 2007.
Premium income rose 7% to $185.9m.
The combined ratio slipped two points to 84%.
Richard Tolliday, chief executive of Omega, said: "We are extremely pleased with our first-half results and our continuing profit growth. We have only modest exposure to the market losses to date in 2008 and are delivering a very strong set of underwriting results.
“We believe our multiple operating platforms across Bermuda, Lloyd's, the US and Europe, together with the quality of our underwriting and risk management will continue to deliver strong performance into the future."
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