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Novae Group Examines Possible Merger With Omega Insurance

May 31 (Bloomberg) -- Novae Group Plc, a Lloyd’s of London insurer, is assessing a possible merger with competitor Omega Insurance Holdings Ltd.

“It is currently undertaking due diligence in evaluating the merits of proposing a possible merger with Omega,” London-based Novae said in a statement today. “There is no certainty that an offer will be forthcoming.”

Novae has a market capitalization of about 240.2 million pounds ($397.1 million), while Omega Insurance is valued at about 180.5 million pounds.

To contact the reporter on this story: Ambereen Choudhury in London at

To contact the editor responsible for this story: Edward Evans at

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