Helios Underwriting delivers 11% annual NAV per share increase

(Alliance News) - Helios Underwriting PLC on Monday said it is well positioned going forward after reporting double-digit growth in net asset value per share.

The London-based investment vehicle that provides participation in the Lloyd's of London insurance market said net asset value per share rose 11% to 243 pence in 2024 from 219p a year prior.

Pretax profit fell to GBP20.9 million in 2024 from a restated GBP36.3 million in 2023 driven by "material" revaluations of investments held at fair value, the firm added.

The dividend was increased to 10p per share, including a 4p special payout, up from 6p a year ago.

In 2025, the firm expects total capital returns to shareholders to amount to 20p per share compared to 12p per share in 2024, including a total cash dividend of 10p.

Looking ahead, Interim Executive Chair John Chamber was optimistic.

"We believe that the best years of this insurance cycle remain ahead of us from a returns perspective with the work done by the portfolio team in increasing the quality of the syndicate portfolio expected to show through in future years while the Lloyd's three-year accounting structure provides the company with good visibility for the next two years, where we expect to see a similar level of capital returned to shareholders", he said.

"The significant improvement in underwriting conditions in the insurance market over recent years continues to feed through to the profitability of the company and is reflected in our accelerated net asset value growth. This robust underlying performance means we are very well positioned going forward, with a continued strong pipeline and good visibility of future cash flows, enabling us to increase our return of capital to shareholders through the payment of a higher total dividend and a tender offer which will take place later this year," he added.

Shares in Helios Underwriting were down 1.6% to 242.00 pence in London on Monday afternoon.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Helios Underw