Underwriting Focus
Omega Specialty underwrites third-party reinsurance business through the Bermuda reinsurance market and has a similar profile to its peers in the market, focusing primarily on property catastrophe treaty reinsurance (approximately 70% of premium income) in the United States (approximately 75% of premium income). Other classes underwritten include property per risk treaty reinsurance, non-marine property insurance and marine insurance and reinsurance. The type of reinsurance risks underwritten by Omega Specialty tends to be of a similar nature to that historically seen on Syndicate 958.
Gross Premiums Written by Class of Business (%)
| 2009: |
73.8% |
|
8.4% |
|
6.9% |
|
1.0% |
|
9.9% |
|
|
|
|
|
|
|
|
|
|
|
Property catastrophe treaty reinsurance |
|
Property per risk treaty reinsurance |
|
Non-marine property insurance |
|
Marine insurance & reinsurance |
|
Other |
| 2008: |
65.9% |
|
1.6% |
|
31.1% |
|
0.0% |
|
1.4% |