Last checked at 18 Nov 2019 07:00
Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid-point Forecasts
Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2017 and 2018 years of account based on 3rd quarter 2019 estimates.
| Year of Account | ||
| 2017 | 2018 | 2019 |
| £m | £m | £m |
Capacity - Position as at 15th November 2019 |
|
| |
Retained | 30.7 | 20.7 | 16.7 |
Reinsured | 25.4 | 38.3 | 39.0 |
| 56.1 | 59.0 | 55.7 |
|
|
|
|
Mid-point forecast at 30th June 2019 | (7.40)% | (3.56)% |
|
Current mid-point forecast | (6.51)% | (3.39)% |
|
|
|
|
|
Lloyd's Market Average | (9.01)% | (5.44)% |
|
Helios out performance | 2.50% | 2.05% |
|
Notes
1) The table shows the capacity as at 15th November 2019 splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.
2) The midpoint forecasts for 2017 and 2018 years of account as of 3rd quarter 2019 have been aggregated at syndicate level from estimates supplied by Managing Agents.
3) The change in the midpoint estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31st December 2019.
Nigel Hanbury, Chief Executive, commented:
"As the only quoted consolidator of private capital at Lloyd's, Helios offers a unique opportunity for growth and returns from exposure to the Lloyd's market through targeted acquisitions of capacity on the better quality syndicates. We are delighted with the improvement in the results for both underwriting years and in the increased outperformance of the portfolio against the Lloyds' market"
For further information, please contact:
Helios Underwriting plc |
|
Nigel Hanbury - Chief Executive | 07787530 404 / nigel.hanbury@huwplc.com |
Arthur Manners - Chief Financial Officer | 07754 965 917 |
|
|
Shore Capital |
|
Robert Finlay/David Coaten (Corporate Advisory) | 020 7408 4050 |
Henry Willcocks (Corporate Broking) |
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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 £56m of capacity for the 2019 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.