Bermuda-based Canopius Group Ltd is to set up a reinsurance unit in Switzerland and has expressed interest in taking over Bermuda rival Omega Insurance Holding Ltd.In a statement released this morning, Canopius said the new European unit, based in Zurich, was expected to start writing business by the middle part of this year.Canopius has tapped Eric Gutiérrez, currently senior vice-president, Ace Tempest Re International and general manager, Ace Reinsurance (Switzerland), to head the new unit.Meanwhile, Omega's directors released a statement this morning, stating that the company had “received an unsolicited approach from Canopius proposing an offer comprising a mixture of cash and unquoted share consideration”.