Shares in the Bermuda based underwriter, Omega Insurance, jumped this morning as the latest rumours flew about a takeover bid.The company's shares rose 10% after a report in the Daily Telegraph that an investment group led by the son of U.S. insurance magnate Jack Byrne was in pole position to buy Omega for £200m.The newspaper said the deal could be announced in the next couple of weeks.Meanwhile in its first half results, announced this morning, the company said it "remains in discussions with third parties regarding potential corporate activity, with the aim to conclude the process shortly"."Omega has received a number of approaches that may lead to an offer being made for the company, and the directors will continue to review these approaches in the context of the best interests of the business and all stakeholders," it said. The figures showed Omega posting further losses, which it blamed largely on the series of natural disasters earlier this year.Losses before tax came in at $49.1m compared to a loss of $34.2m in the first half of 2010.Omega said it had been hit with $51.3m of catastrophe losses but this this was generally less than its peers.The firm said there would be no dividend for the first half of the year.Chief executive, Richard Pexton, said it had been the costliest first half for insured catastrophe losses on record. "We have purchased additional reinsurance cover, all of which remains intact for the US wind season, and in the event of a major industry wind loss in the second half, we would expect significant rate improvements across several of our classes," he said.