Former CEO sues Omega
Created: Feb 11, 2011 08:46 AM (Updated: Feb 11, 2011 08:47 AM)
Bermuda-based Lloyd’s insurer Omega is being sued by former chief executive officer Richard Tolliday.The CEO, who was forced out in a boardroom battle in March last year, wants to have his case for compensation heard in Bermuda, The Insurance Insider reported yesterday.Mr Tolliday’s lawyers filed a writ in London’s High Court against Omega Insurance Holdings Ltd last month, although details of the claim have not yet been disclosed.Omega’s biggest shareholder Invesco led a boardroom overhaul last year, installing six new directors, including Bermuda insurance industry veterans Jim Bryce and Robin Spencer-Arscott. Mr Tolliday departed as a result.