Reinsurance payouts and boardroom row will impact results
Omega Insurance estimates it faces a combined net loss from the Chilean earthquake of approximately $23m, based on market loss estimates of between $5.5bn and $8.5bn.
Omega's exposure to Chile arises through its international reinsurance account.
It does not believe it has any material losses relating to European windstorm Xynthia, nor to any other major catastrophe events in the first quarter of 2010.
Omega said it believed the catastrophe losses from the Chilean earthquake, the resulting potential loss of profit commission to the Group and the costs associated with the Special General Meeting held on 12 March 2010 will have a material effect on the Group's full year result.
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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.
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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