Omega facing $46mn Q1 cat bill
Lloyd's takeover target Omega has informed investors that its likely losses from first-quarter catastrophes stand at $45.7mn.
The estimate includes losses attributable to the 11 March Japanese earthquake, flooding in Queensland, the February earthquake in Christchurch and lost profit commissions.
The losses follow a torrid 2010, when a series of cat events caused the firm to book its first annual operating loss, with new chairman John Coldman describing the result as a "baptism of fire."
The largest of the 2011...
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