Last checked at 29 Jun 2023 15:46
29 June 2023
Helios Underwriting plc
("Helios" or the "Company")
Directorship Change
Helios, the investment vehicle which builds shareholder value through exposure to Lloyd's, is pleased to announce Michael Wade's appointment as Chairman on closure of the Annual General Meeting today. He succeeds Michael Cunningham who has retired from the Company.
Michael Wade has had an extensive career at Lloyd's working across broking, underwriting, capital markets and insurance linked securities. Michael formed one of the first Lloyd's corporate capital vehicles in 1993, CLM Insurance Fund plc, and later acted for UK pension funds via Rostrum Group investing in listed Lloyd's firms. He has served on the Council and Committee of Lloyd's and was formerly a senior adviser to the Cabinet Office. Currently, Michael is also Non-Executive Chairman of Howden Tiger Capital Markets UK and a senior advisor to Mitsui Sumitomo Insurance.
Michael Wade, Chairman of Helios, commented: "I am delighted to be joining Helios as Chairman at this exciting juncture of the Company's journey and I look forward to working closely with the team. Helios should continue to benefit from London's strong trading environment with firm insurance rates and opportunities for the Company to grow."
Martin Reith, Chief Executive Officer of Helios, commented: "I am thrilled to welcome Michael to the Board and look forward to working with him in his role as Chairman. Helios is well positioned to benefit from the current market environment and Michael's extensive industry knowledge and experience will be a huge asset to the Board. I would also like to thank Michael Cunningham for his leadership and dedication to Helios over the past 16 years and wish him well in the future."
AIM Rule 17
Regulatory disclosures in accordance with Rule 17 Schedule Two paragraph (g) of the AIM Rules for Companies.
Michael John Wade, aged 69, holds or has held in the last 5 years the following directorships and/or partnerships:
Current directorships / partnerships | Former directorships / partnerships in the past 5 years
|
Tigerrisk Capital Markets & Advisory (UK) Limited Flood Secure Limited Lloyd's Index Ltd London Market Tracker Ltd Lloyd's Market Tracker Ltd 87 Vincent Square Limited
| Trexit Limited Neon Underwriting Limited TAAGR LLP
|
Michael currently holds 116,470 ordinary shares in Helios.
In addition, Michael Wade was a director of EUC Re Limited (EUC) at the time it was put into a creditors' voluntary liquidation on 11 March 2005. EUC was subsequently dissolved on 10 September 2014.
Save as disclosed above, there are no further disclosures to be made in accordance with Rule 17 or Schedule 2(g) of the AIM Rules for Companies.
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 £297m 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.