Last checked at 25 Jul 2023 07:00
25 July 2023
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Helios Underwriting plc
 ("Helios" or the "Company")
Acquisition of Limited Liability Vehicle (LLV)
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Helios, the investment vehicle which builds shareholder value through exposure to Lloyd's, is pleased to announce the completion of a further LLV acquisition. This vehicle has been acquired for a total cash consideration of £3.2m, acquiring syndicate capacity of £2.3m expanding the access to the Freehold Syndicate capacity. The details are as follows:
Name | Consideration | Humphrey Valuation | Discount | |
£'000's | £'000's | % | ||
Park Farm Underwriting Limited | 3,229 | 3,445 | 6.3% | |
Name | 2023 Capacity | Capacity Value | Turnover | Profit before tax |
£'000's | £'000's | £'000's | £'000's | |
Park Farm Underwriting Limited | 2,265 | 977 | 1,872 | 519 |
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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
Martin Reith - Chief Executive Officer +44 (0)7720 292 505
Nigel Hanbury - Executive Deputy Chairman +44 (0)7787 530 404Â
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
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Numis (Nomad and Broker)
Giles Rolls / Charles Farquhar +44 (0)20 7260 1000
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Buchanan (PR)
Helen Tarbet / George Beale +44 (0)20 7466 5111
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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 £310.8m of capacity for the 2023 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.