Helios Underwriting Plc Quarterly Syndicate Forecasts and Capacity Update (4784Z)
15 March 2017 - 6:00PM
UK Regulatory
TIDMHUW
RNS Number : 4784Z
Helios Underwriting Plc
15 March 2017
15(th) March 2017
Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid Point Forecasts and Capacity Update
Helios announces the final result for 2014 year of account and
the current mid point forecasts for the 2015 years of account in
respect of its portfolio of syndicate capacity based on 4(th)
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 12.1
Reinsured 14.9 16.2 20.6
------- ------ -----
34.4 31.3 32.7
======= ====== =====
Capacity acquired since 28(th)
November 2016
Retained 1.1 0.9 1.0
Reinsured - - -
Capacity - Position as at 31(st)
December 2016
Retained 20.6 16.0 13.1
Reinsured 14.9 16.2 20.6
------- ------ -----
35.5 32.2 33.7
======= ====== =====
Mid point forecast at 30th
September 2016 12.78% 7.55%
Final result / current mid
point forecast 15.50% 8.16% N/A
Lloyds Market Average 10.10% 3.60%
Helios outperformance 5.40% 4.56%
Notes
1) The final result for 2014 year of account and the mid point
forecasts as of 4(th) quarter 2016 for 2015 year of account have
been aggregated at syndicate level from estimates supplied by
managing agents
2) The impact on Helios will be as follows:
a. The increase in the final result for 2014 year of account on
the retained capacity will be substantially 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.
Capacity Update
The analysis of capacity reinsured and retained as at 1(st)
January 2017 and the effect of the acquisition of Pooks Limited is
set out below.
Year of Account
2015 2016 2017
GBPm GBPm GBPm
Position as at 1st Jan
2017 32.2 33.7 32.6
------ ----- -----
Retained 16.0 13.1 9.8
Reinsured 16.2 20.6 22.8
Acquired since 1st Jan
2017
Retained 0.4 0.4 0.2
Reinsured 0.4 0.4 0.6
Position as at 14th
March 2017
Retained 16.4 13.5 10.0
Reinsured 16.6 21.0 23.4
33.0 34.5 33.4
====== ===== =====
The capacity of Pooks Limited that was acquired was subject to a
50% quota share reinsurance contract.
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 2017 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
MSCGGUPPWUPMGRC
(END) Dow Jones Newswires
March 15, 2017 03:00 ET (07:00 GMT)
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Apr 2024 to May 2024
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From May 2023 to May 2024