Omega more than doubles losses

Struggling takeover target Omega's 2011 combined ratio hit 134%, and 2010 pre-tax losses more than doubled to $94.7m (2010: $42.9m).

Omega reported a gross written premiums reduction of 14.5% to $304.6m (2010: $356.1m), which it said was in line with plan.

Its combined ratio was 134.3% (2010: 114.4%) and it said 37.5 points of its

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