LONDON (Bloomberg) — Omega Insurance Holdings Ltd., a Lloyd's of London insurer, fell in London trading after it said takeover talks with several bidders ended.

The board believes "the proposed indicative offers undervalue the long-term value inherent in the company," the Bermuda-based insurer said yesterday in a Regulatory News Service statement.

Omega Insurance declined as much as 7.4 percent and traded down 5.1 percent to 147.5 pence at 8.50 a.m. in London, valuing the company at £217 million ($428 million).