Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts (5133I)
March 22 2018 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 5133I
Helios Underwriting Plc
22 March 2018
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 4th quarter 2017 results.
Year of Account
2015 2016 2017 2018
GBPm GBPm GBPm GBPm
Capacity - Position
as at 20(th) March
2018
Retained 19.8 18.0 11.6 12.3
Reinsured 16.6 19.9 25.4 28.7
------- -------- ----- -----
36.4 37.9 37.0 41.0
======= ======== ===== =====
Mid-point forecast
at 30(th) September
2017 10.99% 2.98%
Result / Current
mid-point forecast 12.93% 3.48% N/A
Lloyd's Market
Average 6.40% (4.06)%
Helios outperformance 6.53% 7.54%
Notes
1) The table shows the capacity as at 1(st) Jan 2018, with no
acquisitions subsequently, splitting the capacity retained by
Helios and the capacity that is ceded to quota share
reinsurers.
2) The result for the 2015 year of account and the mid point
forecasts for 2016 year of account as of 4th 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 increase in the mid point estimates on the retained
capacity over the year will be recognised in the Helios income
statement in the year to 31(st) December 2017.
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 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
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 GBP40m of capacity
for the 2018 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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