Helios Underw Regulatory News (HUW)

26th August 2025

Helios Underwriting plc

('Helios' or 'the Company')

Quarterly Syndicate Mid-point Forecasts

Helios Underwriting, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2023 and 2024 years of account based on second quarter 2025 mid-point forecasts.

John Chambers, Interim Executive Chairman, commented:

"The continuing strong financial performance of Helios reflects the strength of our unique proposition, our continued strategic delivery and favourable underwriting conditions. As a result, we have been able to continue to unlock shareholder returns, including a dividend payment of 10 pence per share in 2025."

"The period has been characterised by an increasingly disciplined approach to the allocation of capital - prioritising established syndicates with profitable track records over new syndicates - while making headway in bringing our operational costs down to a more sustainable level.

"We believe that the best years of this insurance cycle remain ahead of us from a returns perspective. Our portfolio management team has worked to increase the quality of Helios' syndicate portfolio, which will show through in future years. Meanwhile, 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."

Activity During the Period

The 2023 mid-point forecast continues to improve to 15.6% (15.2% as at Q1 2025) in line with expectations. Historic development patterns would indicate that further improvement is likely in the final half year.

The 2024 calendar year experienced above average levels of catastrophe losses and whilst the significant California wildfires occurred at the start of this year the majority of claims fall back to the 2024 year of account. In spite of this the mid-point forecast at 8.0% profit on capacity (7.6% as at Q1 2025), has improved and the year is tracking towards a strong ultimate result. This demonstrating the underlying strength of pricing adequacy.

Notes

1) The table above shows the capacity as at 22nd August 2025, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers and third-party participants. 

2) The mid-point forecasts for 2023 and 2024 years of account as at second quarter 2025 have been aggregated at syndicate level from estimates supplied by Managing Agents.

3) Helios mid-points forecasts have been adjusted for additional expenses charged on syndicates 1902 & 1988, outside the results reported by Lloyd's.

4) Helios mid-points forecasts include estimated profit for seven Syndicate in a Box (SIAB's) supported for the 2024 YOA. These estimates are not included in the market results reported by Lloyd's.

For further information, please contact:

Helios Underwriting plc

John Chambers - Interim Executive Chairman +44 (0)203 965 6441 

Adhiraj Maitra - Director of Finance and Operations +44 (0) 203 743 2114

Deutsche Numis (Nomad and Broker)

Giles Rolls / Charles Farquhar +44 (0)20 7601 6100

FTI Consulting

Ed Berry +44 (0)7703 330 199

Nathan Hambrook-Skinner +44 (0)7977 817 092

Christian Harte +44 (0)7974 288 763

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. The portfolio provides a broad spread of business primarily participating in the US and other international wholesale and reinsurance markets. For further information please visit www.huwplc.com