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Pin to quick picksHelios Underw Regulatory News (HUW)

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Syndicate Forecasts

25 Aug 2016 10:55

RNS Number : 1470I
Helios Underwriting Plc
25 August 2016
 

25th August 2016

 

Helios Underwriting plc

("Helios" or the "Company")

 

 

Quarterly Syndicate Mid Point Forecasts

 

Helios announces the current mid point forecasts in respect of its portfolio of syndicate capacity for the 2014 and 2015 years of account based on 2nd quarter 2016 results.

 

 

 

 

 

Year of Account

 

 

 

 

2014

2015

2016

 

 

 

 

£m

£m

£m

 

 

 

 

 

 

Capacity - Position as at 24th August 2016

 

 

 

 

Retained

 

 

 

19.5

15.1

9.8

Reinsured

 

 

 

14.9

16.2

22.9

 

 

 

 

34.4

31.3

32.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mid point Forecast at 31st March 2016

 

9.22%

6.98%

 

Current Mid Point Forecast

 

 

11.31%

7.22%

N/A

 

 

 

 

 

 

Lloyds Market Average

 

 

8.15%

3.75%%

 

Helios Outperformance

 

 

3.16%

3.47%

 

 

 

 

 

 

 

Notes

 

1) There has been no change in the capacity of the Company since the previous announcement of quarterly results on 7th June 2016.

2) The mid point forecasts as of 2nd quarter 2016 have been aggregated at syndicate level from estimates supplied by Managing Agents.

3) The impact on Helios will be as follows:

a. The increase in the mid point estimates on the retained capacity will be recognised in the Helios income statement this year.

b. The overall improvement in the result will be received by Helios in cash when the profits are distributed after the close of the year of account.

 

 

 

For further information please contact:

Helios

Nigel Hanbury - Chief Executive 020 7863 6655 / nigel.hanbury@huwplc.com

Arthur Manners - Chief Financial Officer   07754 965917

 

 

Stockdale Securities   020 7601 6100

Robert Finlay

Rose Ramsden

 

 

 

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 £32 million of capacity for the 2016 account. The portfolio provides a good spread of classes of business being concentrated in property insurance and reinsurance. For further information please visit http://www.huwplc.com/ 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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