Response to Haverford statement

15 December 2011

Not for release, publication or distribution, in whole or in part, directly or indirectly, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

Omega Insurance Holdings Limited ("Omega" or the "Company")

Response to Haverford (Bermuda) Limited announcement

The Omega Board notes today's announcement by Haverford (Bermuda) Limited ("HBL").

We have again consulted with a significant majority of our institutional shareholders after the publication of HBL's announcement this morning. Following HBL's failure to honour its obligations under the Partial Cash Offer (for which the Strike Price was 83p) neither the Board nor the shareholders who have been consulted today are supportive of HBL's revised proposal or of any further engagement with HBL regarding an offer.

The Omega Board also refutes HBL's allegations regarding the financial position of Omega and notes that HBL has not claimed that the material adverse change clause in the Offer Document was triggered.

Omega will take such actions as it deems necessary to protect its legitimate interests.

ENDS

Contacts:

Kinmont Tel: +44 (0)20 7087 9100

John O'Malley

Mat Thackery

Cenkos Tel: +44 (0)20 7397 8900

Ian Soanes

Haggie Financial Tel: +44 (0)20 7417 8989

David Haggie

Juliet Tilley

Defined terms used in this announcement have the meanings given to them in the Company'sannouncement of 12 September 2011.

Notes to Editors 

Omega is incorporated and its registered office is in Bermuda. Accordingly, Omega is not subject to the provisions of The City Code on Takeovers and Mergers (the "Code"). However, Omega's Bye-laws adopt certain of the provisions of the Code including provisions dealing with compulsory takeover offers and shareholder treatment along the lines of the general principles as set out in the Code, which are to be administered at the discretion of the Board.

Omega confirms that as at the close of business on 14December 2011 its issued share capital consisted of 244,229,862 common shares of US$0.10 each.

 The International Securities Identification Number for Omega common shares is BMG6765P1095.