http://news.bbc.co.uk/1/hi/wales/4086010.stm
The Wales and Newport Gwent Dragons skipper left the Lions camp in New Zealand straight after the clash with the Maori XV on Saturday.
"Mother and baby are doing very well," said Owen. "It was a special moment for all our family."
Owen arrived earlier than expected at his home in Church Village, near Pontypridd, and met his father, Colin, who was preparing to take Lucy to the Royal Glamorgan Hospital, Llantrisant, for a planned Caesaerean birth.
The number eight is expected to fly back to New Zealand on Tuesday night.
"As far as rugby is concerned this trip doesn't change anything and I'll be doing the best I can to perform once I rejoin my Lions team-mates for the rest of the tour," he said.
The Owens already have one daughter, Ellie, aged two.
Owen's father said his son has always been determined to be at the birth.
"They are a very, very devoted couple. There was never any doubt that Michael was coming home," he added.
"He wouldn't have gone on the tour if he hadn't have been able to come home - it was that important to him."
Family support
Although he has been thousands of miles away for the past four weeks, Michael, 24, has been keeping in touch with Lucy, 28, and Ellie.
They have spoken on the phone and via a webcam set up to link their home with New Zealand.
"It's been fantastic - there's been no comparison with the last time he toured," said Lucy.
"Ellie has been able to speak to her dad on the telephone and she's so much calmer and relaxed once they've had a chat. It's been great."
She said she had also been fortunate in having the support of family and friends who had helped her through the final weeks of pregnancy while her husband has been away.
Michael and Lucy met at Bryn Celynnog School in Pontypridd and have been together ever since.
They married last July at the Miskin Manor, but Michael will be away from home for their first anniversary.
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