Canopius makes play for Omega in bid to grow PE-backed Lloyd’s insurer
Canopius chairman Michael Watson has acted on ambitions to grow his private equity-backed Lloyd's insurer, with a £164m takeover of struggling Omega in a deal that sees a slice of the business sold to US insurer Tower Group.
Hot on the heels of the CNA takeover of Hardy, market watchers suggest the deal is part of a wider trend that will continue to see insurance capital come together, especially at Lloyd’s.
Gary Thorpe
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