Chief underwriting officer replaces by Vanous

Omega Insurance Holdings’ share price fell 10% following the sudden departure of its chief underwriting officer John Robinson. He stepped down from the post with immediate effect.

Omega’s share price fell from 122p to 110p following the announcement on Thursday, but rallied later in the week to 122.5p.

Robinson, who co-founded Lloyd’s Syndicate 958, is replaced by Daria Vanous.

A company statement said: “The board would like to thank Mr Robinson for his outstanding contribution to the group over many years. Business performance in the year to date continues to be strong and in line with expectations.

“Omega’s core lines continue, as anticipated, to offer attractive margins and loss ratios reflecting the absence of any major claims experience so far in 2009, and premium volumes are in line with estimated levels.”

The company will release its interim management statement on 19 November.