Helios Underwriting Plc Quarterly Syndicate Mid Point Forecasts (7206N)
August 11 2017 - 1:00AM
UK Regulatory
TIDMHUW
RNS Number : 7206N
Helios Underwriting Plc
11 August 2017
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 2015 and 2016 years of
account based on 2(nd) quarter 2017 results.
Year of Account
2015 2016 2017
GBPm GBPm GBPm
Capacity - Position
at 1 January 2017 32.2 33.7 32.6
------- ------ -----
Retained 16.1 10.8 9.8
Reinsured 16.2 22.9 22.8
Capacity acquired
since 1 January 2017
Retained 2.4 2.5 0.9
Reinsured 0.4 0.4 2.2
Capacity - Position
as at 1 August 2017
Retained 18.5 13.3 10.7
Reinsured 16.6 23.3 25.0
------- ------ -----
35.1 36.6 35.7
======= ====== =====
Mid-point forecast
at 31 March 2017 9.82% 3.48%
Current mid-point
forecast 10.82% 3.77% N/A
Lloyd's Market Average 4.60% 0.45%
Helios outperformance 6.22% 3.32%
Notes
1) The table shows the movement in capacity as result of
acquisitions made since 1 January 2017 splitting the capacity
retained by Helios and the capacity that is ceded to quota share
reinsurers.
2) The mid point forecasts as of 2(nd) quarter 2017 have been
aggregated at syndicate level from estimates supplied by Managing
Agents
3) The impact on Helios will be as follows:
a. The additional capacity acquired on the open years will make
a contribution to the earnings of Helios although part of the
result will have been earned in prior years or will be treated as
pre-acquisition profits.
b. The increase in the mid point estimates on the retained
capacity will be recognised in the Helios income statement this
year.
c. 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 Underwriting plc
Nigel Hanbury - Chief Executive 020 7863 6655 /
nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965 917
Stockdale Securities Limited
Robert Finlay 020 7601 6100
David Coaten
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 GBP35.7m of capacity
for the 2017 account. The portfolio provides a good spread 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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