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Syndicate 958 Forecast Result

27 Nov 2006 07:01

Omega Insurance Holdings Limited27 November 2006 27 November 2006 OMEGA INSURANCE HOLDINGS LIMITED OMEGA'S SYNDICATE 958 FORECAST RESULTS Omega Insurance Holdings Limited ("Omega") today announces unchanged forecastsfor Syndicate 958 for the 2004 and 2005 years of account. The forecasts are after standard personal expenses and are expressed as apercentage of capacity. Year of account Capacity £m Current forecast Previous forecast 2004 224 5% to 10% 5% to 10%2005 224 4% to 11% 4% to 11% The 2006 year of account, whilst at a very early stage, is benefiting fromrobust underwriting conditions and an encouragingly low level of incurredlosses. Richard Tolliday, Chief Executive of Omega, commented: "It is pleasing to beforecasting robust profits for Syndicate 958's 2004 and 2005 account results,despite the hurricanes in those years, and therefore continuing the Syndicate'sunbroken track record of underwriting profits since its establishment in 1980.The strong trading conditions and low level of loss activity to date provide avery promising start to the 2006 year of account. We believe the Group is wellpositioned to take advantage of the opportunities available and continue to beoptimistic for 2007 and beyond." Enquiries: Omega Insurance Holdings Limited +1 441 294 6610Richard Tolliday, CEOJohn Coles, Threadneedle Communications +44 (0)20 7936 9604Louise Robson, Weber Shandwick +44 (0)20 7067 0700 Notes to Editors • Omega became the new holding company of the Omega group on 9 November 2006when the scheme of arrangement of Omega Underwriting Holdings PLC (the Omegagroup's previous holding company and now wholly owned by Omega) ("OUH") becameeffective. On the same day the common shares of Omega were admitted to tradingon AIM, the admission of OUH's shares to trading on AIM was cancelled and OUHwas re-registered as a private limited liability company. Omega, through its wholly owned subsidiary, Omega Underwriting Agents Limitedacts as a Lloyd's managing agent for Syndicate 958 and in February 2006established a new insurance and reinsurance business, Omega Specialty InsuranceCompany Limited, based in Bermuda. • Syndicate 958 Syndicate 958 has a capacity for the 2006 year of account of £249 million. TheSyndicate has made an underwriting profit in every closed year of account sinceits inception in the 1980 year of account. The Syndicate has focusedpredominantly on short-tail property insurance and reinsurance, insuring smallto medium sized insureds and reinsuring the smaller insurance companies. The Syndicate's financial strength rating from A.M. Best Company, Inc. of "A"(Excellent) and an Issuer Credit Rating of "a+" (Excellent) were reaffirmed on 7February 2006. • Omega Specialty Insurance Omega Specialty is authorised by the Bermuda Monetary Authority as a Class 3insurer, underwriting its targeted classes of insurance and reinsurance, key inwhich are non-marine property insurance, professional indemnity insurance,property catastrophe treaty reinsurance and property per risk treatyreinsurance. Omega Specialty is capitalised at $172 million. On 4 April 2006, Omega Specialty was assigned a financial strengthrating by A.M. Best of "A-" (Excellent). This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
19th Oct 20105:45 pmRNSChange of Registered Office
14th Sep 20102:24 pmRNSA.M. Best affirms ratings of Omega
13th Sep 20104:23 pmRNSSterling Conversion Rate for Dividend
10th Sep 20107:00 amRNSDirector/PDMR Shareholding
3rd Sep 20101:00 pmRNSManagement change at OUAL
2nd Sep 20104:01 pmRNSManagement change at OUAL
1st Sep 20105:26 pmRNSDirector Declaration
31st Aug 20107:00 amRNSInterim Results
24th Aug 20104:42 pmRNSHolding(s) in Company
16th Aug 20107:00 amRNSHalf Year Update
5th Aug 20101:18 pmRNSHolding(s) in Company
13th Jul 20109:25 amRNSNotice of Results
24th Jun 20105:53 pmRNSDirector/PDMR Shareholding
22nd Jun 20101:15 pmRNSHolding(s) in Company
14th Jun 20103:04 pmRNSHolding(s) in Company
1st Jun 20106:24 pmRNSHolding(s) in Company
21st May 20103:58 pmRNSAnnual Information Update
20th May 20106:03 pmRNSResult of AGM
19th May 20104:05 pmRNSInterim Management Statement
11th May 20101:54 pmRNSHolding(s) in Company
10th May 20104:35 pmRNSPrice Monitoring Extension
27th Apr 20104:40 pmRNSSecond Price Monitoring Extn
27th Apr 20104:35 pmRNSPrice Monitoring Extension
23rd Apr 201011:36 amRNSGrant of Options to PDMRs
21st Apr 20105:46 pmRNSNotice of AGM and AGM Record Date
20th Apr 20106:05 pmRNSAnnual Financial Report
12th Apr 20104:12 pmRNSDividend - Sterling Conversion Rate
31st Mar 20107:00 amRNSStatement re Chilean earthquake
19th Mar 20109:50 amRNSRichard Pexton appointed Chief Executive Officer
12th Mar 20103:00 pmRNSResult of Special General Meeting
11th Mar 201012:43 pmRNSDividend Declaration
11th Mar 20107:00 amRNSOmega Insurance Holdings 2009 Full Year Results
3rd Mar 20107:00 amRNSStatement re Invesco Asset Management Ltd
22nd Feb 20107:00 amRNSA.M. Best Rating Review
18th Feb 20103:15 pmRNSNotification of Results and Analyst Conference Cal
18th Feb 20103:15 pmRNSCircular re SGM
29th Jan 20109:30 amRNSNotice of Convening of SGM
23rd Dec 20097:01 amRNSStmnt. Re Requisition of SGM
7th Dec 200912:45 pmRNSStmnt. re Requisition of Special General Meeting
18th Nov 20097:00 amRNSInterim Management Statement
2nd Nov 20094:12 pmRNSTotal Voting Rights
30th Oct 20091:43 pmRNSHolding(s) in Company
29th Oct 20097:00 amRNSDirectorate Change
6th Oct 20096:20 pmRNSExercise of Options
5th Oct 20093:15 pmRNSSterling conversion rate for dividend
29th Sep 20094:40 pmRNSSecond Price Monitoring Extn
29th Sep 20094:35 pmRNSPrice Monitoring Extension
17th Sep 20095:03 pmRNSHolding(s) in Company
9th Sep 20095:28 pmRNSHolding(s) in Company
9th Sep 20098:00 amRNSCurrency Election Form & Dividend Payment Form

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