20 May 2015News

Till Capital completes Omega acquisition

Bermuda-based Till Capital has completed its acquisition of Toronto-based insurance provider Omega Insurance.

The acquisition includes Omega’s subsidiary companies Omega General Insurance Company and Focus Group.

At closing, Till paid Omega shareholders approximately $14.7 million, representing 95 percent of 1.2 times book value as at September 30, 2014.

Philip Cook will continue to hold the position of chief executive officer (CEO) of Omega.

William Sheriff, chairman and CEO of Till Capital, said: "We are excited to move forward with the combination of Omega's insurance industry expertise and our company's investment and technical teams.

“This foundation for growth provides a unique platform combining a proprietary equity and investment strategy with an insurance company offering unique products and services. This acquisition represents a major step in solidifying our position in the insurance/reinsurance industry."

Cook added: ”We are very pleased that the transaction has now received the necessary approvals, which brings new and exciting opportunity for both of our organisations.

“The property casualty insurance industry is in a constant state of change, and we look forward to expanding our operations to produce enhanced products and services for our clients and policyholders, along with sustainable profitability for all stakeholders."




More on this story

News
15 November 2017   Bermuda-domiciled Till Capital has signed two engagement agreements with two different and undisclosed investment banking firms for the sale of its wholly-owned Canadian subsidiary Omega Insurance Holdings, and its Springer Tungsten Mine and Mill Complex located in Pershing County, Nevada.
News
2 December 2016   Till Capital (Till), a Bermuda-based company that owns Omega Insurance Holdings and Resource Re, has initiated a new normal course issuer bid (NCIB) and intends to bid for up to 262,860 common shares, representing 10 percent of the 2,628,600 shares forming Till's public float.
News
15 November 2016   Till Capital, a Bermuda-based insurer, has added Patricia Tilton and George Rohlinger to its board of directors as independent directors.

More on this story

News
15 November 2017   Bermuda-domiciled Till Capital has signed two engagement agreements with two different and undisclosed investment banking firms for the sale of its wholly-owned Canadian subsidiary Omega Insurance Holdings, and its Springer Tungsten Mine and Mill Complex located in Pershing County, Nevada.
News
2 December 2016   Till Capital (Till), a Bermuda-based company that owns Omega Insurance Holdings and Resource Re, has initiated a new normal course issuer bid (NCIB) and intends to bid for up to 262,860 common shares, representing 10 percent of the 2,628,600 shares forming Till's public float.
News
15 November 2016   Till Capital, a Bermuda-based insurer, has added Patricia Tilton and George Rohlinger to its board of directors as independent directors.