TIDMHUW

RNS Number : 0122S

Helios Underwriting Plc

11 November 2021

11(th) November 2021

Helios Underwriting plc

("Helios" or the "Company")

Acquisition of further Limited Liability Vehicles (LLVs)

Further to its announcement of 18th October, Helios, the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce the completion of a further LLV acquisition. This vehicle has been acquired for cash consideration of GBP0.8m, acquiring syndicate capacity of GBP2.2m. The details are as follows:

 
                                              Humphrey 
 Name                        Consideration    Valuation   Discount 
                               GBP'000's     GBP'000's        % 
 Queensberry Underwriting 
  Limited                         795           837         5.0% 
 
 
 
                                                                       Profit 
                                              Capacity                  before 
 Name                        2021 Capacity      Value     Turnover       tax 
                               GBP'000's     GBP'000's    GBP'000's   GBP'000's 
 Queensberry Underwriting 
  Limited                        2,211          850         2,136       (101)

Terms have been agreed with a further 11 LLV's where completion is subject, inter alia, to regulatory approval. It is expected that these acquisitions will be completed shortly, and further announcements will be made in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.

For further information, please contact:

Helios Underwriting plc

   Nigel Hanbury - Chief Executive                                      +44 (0)7787 530 404 / nigel.hanbury@huwplc.com 
   Arthur Manners - Chief Financial Officer                       +44 (0)7754 965 917

Shore Capital (Nomad and Broker)

Robert Finlay +44 (0)20 7601 6100

David Coaten

Willis Re Securities (Financial Adviser)

Alastair Rodger +44 (0)20 3124 6033

Buchanan (PR)

   Helen Tarbet / Henry Wilson / George Beale                +44 (0)7872 604 453

+44 (0)20 7466 5111

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 GBP130m of capacity for the 2021 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com .

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November 11, 2021 02:00 ET (07:00 GMT)

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