Bermudan insurer votes for change at SGM
The board of Lloyd's insurer Omega has accepted proposals by its largest shareholder Invesco that will result in the appointment of six new non-executive directors.
At a special general meeting held earlier today, Omega said that all the resolutions set out in a circular dated 18 February 2010 were duly passed by shareholders.
Accordingly, John Coldman, James Bryce, Robin Spencer-Arscott, Jonathan Betts, David Cooper and Ernest Morrison will be appointed as non-executive directors with immediate effect.
However Walter Fiederowicz, Christopher Clarke, Clifford Palmer, Coleman Ross and Nicholas Warren have all stepped down as non-executive directors with immediate effect.
In a statement, Omega added: "As stated in the circular, the Delaware Department of Insurance called a public hearing for 10 March 2010 to consider the disclaimer of control which the Delaware Department of Insurance originally granted to Invesco Asset Management Limited in relation to Omega US Insurance. The decision of the Delaware Department of Insurance is not yet available and a further announcement will be made once the decision is available."
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