Last checked at 25 Jul 2023 07:00
25 July 2023
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Limited Liability Vehicle (LLV)
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 |
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 530 404
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Numis (Nomad and Broker)
Giles Rolls / Charles Farquhar +44 (0)20 7260 1000
Buchanan (PR)
Helen Tarbet / George Beale +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 £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.