Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts (2528J)
August 16 2019 - 1:00AM
UK Regulatory
TIDMHUW
RNS Number : 2528J
Helios Underwriting Plc
16 August 2019
Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid-point Forecasts
Helios, the unique investment vehicle which acquires and
consolidates private underwriting capacity at Lloyd's, announces
the current mid-point forecasts in respect of its portfolio of
syndicate capacity for the 2017 and 2018 years of account based on
2(nd) quarter 2019 estimates.
Year of Account
2017 2018 2019
GBPm GBPm GBPm
Capacity - Position as at 1st
January 2019 53.1 55.7 52.6
---------- ---------- ----
Retained 27.7 18.3 15.8
Reinsured 25.4 37.4 36.8
Capacity acquired since 1st January
2019
---------- ---------- ----
Retained 3.0 2.4 0.9
Reinsured 0.0 0.9 2.2
Capacity - Position as at 15th August
2019
Retained 30.7 20.7 16.7
Reinsured 25.4 38.3 39.0
---------- ---------- ----
56.1 59.0 55.7
Mid-point forecast at 30th June
2019 (8.95)% (3.53)%
Current mid-point forecast (7.40)% (3.56)%
Lloyd's Market Average (9.55)% (4.44)%
Helios out performance 2.15% 0.88%
Notes
1) The table shows the capacity as at 1(st) January 2019
separately showing the capacity acquired to date this year,
splitting the capacity retained by Helios and the capacity that is
ceded to quota share reinsurers. Helios has acquired two LLV's in
2019 to date for GBP3.4m.
2) The midpoint forecasts for 2017 and 2018 years of account as
of 2nd quarter 2019 have been aggregated at syndicate level from
estimates supplied by Managing Agents.
3) The change in the midpoint estimates on the retained capacity
over the year will be recognised in the Helios income statement in
the year to 31(st) December 2019.
Nigel Hanbury, Chief Executive, commented:
"As the only quoted consolidator of private capital at Lloyd's,
Helios offers a unique opportunity for growth and returns from
exposure to the Lloyd's market through targeted acquisitions of
capacity on the better quality syndicates.
Looking ahead, the number of LLV's for sale is increasing and we
see attractive near-term opportunities to continue to consolidate
the market and achieve improved outperformance against
Lloyd's".
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
Shore Capital
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 GBP56m 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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