Omega Underwriting to leave UK - papers 19 Sept

Hiscox, one of the biggest insurers in the 318-year-old market, said last Monday it would finalise arrangements to move to the island by Christmas. Omega’s move will be complete by mid-November, with shares in the new company, Omega Insurance Holdings, listed on AIM. The moves coincide with a push by Lord Levene of Portsoken, the chairman of Lloyd’s, to have the UK tax rate reduced for businesses which underwrite international reinsurance from London, says the paper. HOUSE PRICES are rising faster than the Bank of England was expecting this year, according to Monetary Policy Committee ...