Helios Underwriting Plc Quarterly Syndicate Forecasts (3473Q)
November 29 2016 - 1:00AM
UK Regulatory
TIDMHUW
RNS Number : 3473Q
Helios Underwriting Plc
29 November 2016
29 November 2016
Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid Point Forecasts
Helios announces the current mid point forecasts in respect of
its portfolio of syndicate capacity for the 2014 and 2015 years of
account based on 3(rd) quarter 2016 results.
Year of Account
2014 2015 2016
GBPm GBPm GBPm
Capacity
Position as at 28(th)
November 2016
Retained 19.5 15.1 9.8
Reinsured 14.9 16.2 22.9
34.4 31.3 32.7
======= ====== =====
Mid point forecast
at 30(th) June 2016 11.31% 7.22%
Current Mid
point forecast 12.78% 7.55% N/A
Lloyds Market
Average 9.40% 3.30%
Helios outperformance 3.38% 4.25%
Notes
1) There has been no change in the capacity of the Company since
the previous announcement of quarterly results on 25(th) August
2016.
2) The mid point forecasts as of 3rd quarter 2016 have been
aggregated at syndicate level from estimates supplied by Managing
Agents
3) The impact on Helios will be as follows:
a. The increase in the mid point estimates for 2014 Year of
Account on the retained capacity will be recognised in the Helios
income statement this year.
b. The overall improvement in the result will be received by
Helios in cash when the profits are distributed after the close of
the year of account.
For further information please contact:
Helios
Nigel Hanbury - Chief Executive 07787 530404 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965917
Stockdale Securities 020 7601 6100
Robert Finlay
Richard Johnson
About Helios
Helios provides a limited liability direct investment into the
Lloyd's insurance market and is quoted on the London Stock
Exchange's AIM market (ticker: HUW). Helios trades within the
Lloyd's insurance market writing approximately GBP33 million of
capacity for the 2016 account. The portfolio provides a good spread
of classes of business being concentrated in property insurance and
reinsurance. For further information, please visit
www.huwplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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