More bidders for Omega

Shares in Omega Insurance Holdings were pushed higher by news that there are more potential bidders for insurer and reinsurer. In January, Omega said that rival Canopius Group is proposing a cash plus shares offer for the company, which moved into loss in 2010. The Japanese earthquake and other recent disasters will make 2011 tough. There was no final dividend for 2010 which meant that the total dividend fell from 12.5 cents a share to 6 cents a share.Discussions with the other potential bidders are still at an early stage. Orascom Inv