Helios Underw Share News (HUW)

IN BRIEF: Helios Underwriting annual loss widens in challenging year

Helios Underwriting PLC - London-based limited liability vehicles investment company - Pretax loss widens in 2022 to GBP5.2 million from GBP645,000 the previous year, with the company saying this was due to the macroeconomic difficulties with interest rate hikes and the Ukraine war dampening returns. However, the company says that the "results have been skewed by the steps Helios has taken to position our portfolio to yield significant returns", with a three-year lag in the recognition of underwriting profit in the company accounts distorting returns. Revenue doubles to GBP143.3 million from GBP71.8 million, whilst net premiums written soars to GBP187.6 million from GBP79.1 million. Helios Underwriting recommends a final dividend of 3 pence per share, unchanged from last year.

Helios Underwriting appoints Reith as CEO as retained capacity rises

(Alliance News) - Helios Underwriting PLC on Tuesday said it appointed Non-Executive Director Martin Reith as chief executive officer, replacing Nigel Hanbury immediately, while retained capacity rose in 2022.

CORRECT: Helios Underwriting increases portfolio by 27%

(Correcting that Helios Underwriting is an investment vehicle that acquires and consolidates underwriting capacity at Lloyd's insurance market, not Lloyds Banking Group).

Helios Underwriting says portfolio increases by 27% since last January

(Alliance News) - Helios Underwriting PLC on Tuesday said its overall portfolio on January 1 increased by 27% from a year earlier.

CORRECT: Helios Underwriting acquires vehicles for GBP5.7 million

(Correcting that acquisition was made by Helios Underwriting, not Helios Towers.)

IN BRIEF: Helios Towers acquires vehicles for GBP5.7 million

Helios Towers PLC - Africa-focused mobile phone tower infrastructure company - Acquires a further three limited liability vehicles for GBP5.7 million. The vehicles include Harris Family UTG Ltd, Whitehouse Underwriting Ltd, and Risk Capital UTG Ltd. GBP5.1 million will be paid in cash, GBP400,000 through the issue of 235,796 new ordinary shares at a price of GBP1.6 per share, and a further GBP300,000 have been deferred, dependent on the result of the LLVs' open years of account. Notes that the acquisition of Harris Family UTG and Whitehouse Underwriting have been completed and the completion of Risk Capital UTG Ltd is subject to a change of control approval.

Helios Underwriting raises GBP12.5 million from share issue

(Alliance News) - Helios Underwriting PLC on Thursday said it has raised GBP12.5 million through a placing and subscription of 8.0 million new shares at GBP1.56 each.

TRADING UPDATES: Helios Underwriting plans to raise GBP13.5 million

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

EARNINGS SUMMARY: APQ, Pires loss widens; REI profit down

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

IN BRIEF: Helios Underwriting portfolio grows in year-to-date

Helios Underwriting PLC - London-based investment vehicle which acquires and consolidates underwriting capacity at Lloyd's - As at August 18, its capacity portfolio for the 2022 underwriting year stands at GBP232.7 million, 60% higher than GBP145.0 million for 2021.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Helios Underwriting swings to loss but revenue surges

Helios Underwriting PLC - London-based limited liability vehicles investment company - Swings to a loss of GBP434,000 in 2021 from a profit of GBP301,000 the previous year. Revenue surges to GBP71.8 million from GBP53.8 million, while net premiums written jumps to GBP79.1 million from GBP50.6 million. Underwriting profit soars to GBP3.4 million from GBP639,000. Proposes a final dividend of 3 pence per share. The company did not pay a dividend in 2020.

TRADING UPDATES: Big Yellow's annual profit surges on occupancy gains

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

TRADING UPDATES: Europa eyes fundraise; Eastinco extends long stop

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

IN BRIEF: Helios Underwriting acquires three vehicles

IN BRIEF: Helios Underwriting acquires three vehicles