31 July
2024
Helios Underwriting
plc
('Helios' or the
'Company')
Update on Net Asset Value as at
31st March 2024
Unaudited - NTA per share of
191p
Helios, the investment vehicle which builds
shareholder value through exposure to Lloyd's, announces that the
unaudited Net Asset Value per share has increased by 2p in the
quarter to 31st March 2024 to £1.91.
Michel Wade,
Executive Chairman, commented:
"The market conditions at Lloyd's remain
strong, as reported across the market during the last month.
Helios' pipeline profitability from the portfolio looks promising
and underpins our confidence in the future performance of the
business.
The recent repurchase of shares by the Company
completed the Return of Capital to shareholders and has enhanced
Net Asset Value per share."
Growth in Net
Asset Value
|
|
Net Asset Value £ per
share
|
Net Assets
£000's
|
|
Net asset value per share as at
31/12/23
|
1.89
|
140,120
|
|
Profits for period to 31st March 2024
- Note 1
|
0.02
|
1,435
|
|
Share buy-backs
|
|
(807)
|
|
Unaudited Net Asset per Share - 31st
March 2024
|
1.91
|
140,748
|
|
Basic Shares in issue at 31st March
2024
|
|
73,645
|
|
|
|
| |
Note
1 - Profits to 31st March 2024 are
management best estimate with the unaudited information at the date
of publication.
Following the recent repurchase of shares valued
at £3.7m by the Company a further enhancement of Net Asset Value
per share is expected of approximately 2p per share.
For further
information, please contact:
Helios
Underwriting plc
Michael Wade - Executive
Chairman
Arthur Manners - Chief Financial
Officer
Deutsche Numis
(Nomad and Broker)
Giles Rolls / Charles
Farquhar
+44 (0)20 7260 1000
FTI
Consulting Ed Berry / Tom O'Brien
+44 (0)7703
330 199 / +44 (0)7929 021 492
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 £512m of
capacity for the 2024 account. The portfolio provides a good spread
of business being concentrated in property & casualty insurance
and reinsurance. For further information please visit
www.huwplc.com.