Bermuda-based reinsurance provider Till Capital has acquired Omega Insurance, a Canada based insurance provider.
Till Capital has also acquired Omega’s subsidiaries Omega General Insurance Company and Focus Group.
The reinsurance provider will pay an aggregate purchase price of 1.2 times book value, or approximately $15.4 million as of June 30, 2014.
Till Capital said the acquisition of Omega increases the company’s insurance and reinsurance capacity and its assets under management.
“The combination of Omega’s insurance expertise and the Company’s investment and technical teams is a solid foundation for growth,” said Till Capital.
Till Capital, Omega Insurance, Bermuda, North America