Omega shares fall after boardroom feud cost revealed
Bermuda-based Lloyd's (re)insurer Omega Insurance Holdings initially saw its shares fall by over 10 percent last week after announcing that the financial fall-out from the bitter boardroom feud would hit its 2010 earnings.
The short-tail specialist - which parachuted in a new chief executive and chairman last month following a shareholder revolt over the old regime - also revealed a fairly modest Chilean loss estimate of $23mn, based on a market-wide loss of between $5.5bn and $8.5bn.
The firm said...
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