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Omega Insurance’ First Half Pretax Profit Declines

Declared to pay a dividend of 6 cents per share

Bermuda-based Omega Insurance Holdings, a holding company for businesses in Bermuda, US, London and Cologne, has revealed that its profits for the first half of 2009 has slightly dropped, when compared to the same period of 2008 – reported Reuters.

The company, specialized in property insurance and reinsurance, has posted a pretax profit of $22.9m for the first half of 2009, as compared to $24.5m posted for the same period of the previous year. The company has informed that there would be a positive outlook for remaining year since the rates are firming in its core business.

The company informed in a statement that Although uneven, in our core lines the market continues to firm and returns look attractive. Omega also declared that it would pay a dividend of 6 cents per share.