Helios Underwriting Plc 2019 Capacity Update (7899M)
January 10 2019 - 8:36AM
UK Regulatory
TIDMHUW
RNS Number : 7899M
Helios Underwriting Plc
10 January 2019
Helios Underwriting plc
("Helios" or the "Company")
2019 Capacity Update
Helios is pleased to announce that its opening capacity for the
2019 underwriting year of account is GBP52.6m (GBP41m - at 1(st)
January 2018), a 28% increase in opening capacity year on year. A
summary of the movements in capacity during 2018 and the opening
capacity for the 2019 underwriting year is set out below.
Year of Account
2016 2017 2018 2019
GBPm GBPm GBPm GBPm
Capacity - Position as at 1st
January 2018 37.8 37.0 41.0
----- ----- -----
Retained 17.9 11.6 12.3
Reinsured 19.9 25.4 28.7
Capacity acquired during 2018
Retained 16.1 16.1 6.0
Reinsured - 8.7
Capacity - Position as at 1st
January 2019
Retained 34.0 27.7 18.3 15.8
Reinsured 19.9 25.4 37.4 36.8
53.9 53.1 55.7 52.6
===== ===== ===== =====
Notes
1) The table shows the movement in capacity in the year from
1(st) January 2018 separately showing the capacity acquired during
2018, splitting the capacity retained by Helios and the capacity
that is ceded to quota share reinsurers.
2) During 2018 Helios acquired six LLV's adding GBP14.7m of
capacity to the capacity portfolio for the underwriting year.
Further to the Company's announcement of 11 December 2018, the
short-term loan of GBP8.1m arranged by Helios to assist in the
financing of the acquisition of the LLV with member number 54532L
has been repaid in full as expected.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 07787530 404 / 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 GBP53m of capacity
for the 2019 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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