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Member, Beacon International Group, Ltd.
LONDON—Novae Group P.L.C. said Tuesday that it is conducting due diligence on a possible merger with Omega Insurance Holdings Ltd.
London-based Novae, which operates syndicate 2007 at Lloyd's of London, said in a statement that there is no guarantee that it would make an offer for Hamilton, Bermuda-based Omega.
Omega said in March that it had received several offers since January's an unsolicited offer from Guernsey-based Canopius Group Ltd.
Omega operates syndicate 958 at Lloyd's as well as insurance units in the United Kingdom, United States and Bermuda.
HAMILTON, Bermuda—Omega Insurance Holdings Ltd. said it has received several approaches that may lead to an offer being made to buy the company.