Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts (6521T)
18 November 2019 - 6:00PM
UK Regulatory
TIDMHUW
RNS Number : 6521T
Helios Underwriting Plc
18 November 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
3(rd) quarter 2019 estimates.
Year of Account
2017 2018 2019
GBPm GBPm GBPm
Capacity - Position as at 15th November
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 (7.40)% (3.56)%
Current mid-point forecast (6.51)% (3.39)%
Lloyd's Market Average (9.01)% (5.44)%
Helios out performance 2.50% 2.05%
Notes
1) The table shows the capacity as at 15(th) November 2019
splitting the capacity retained by Helios and the capacity that is
ceded to quota share reinsurers.
2) The midpoint forecasts for 2017 and 2018 years of account as
of 3rd 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. We are delighted with
the improvement in the results for both underwriting years and in
the increased outperformance of the portfolio against the Lloyds'
market"
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/David Coaten
(Corporate Advisory) 020 7408 4050
Henry Willcocks (Corporate
Broking)
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
MSCGGGUCGUPBGMA
(END) Dow Jones Newswires
November 18, 2019 02:00 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