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Pin to quick picksHelios Underw Regulatory News (HUW)

Share Price Information for Helios Underw (HUW)

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Underwriting Capacity

5 Dec 2016 07:01

RNS Number : 8833Q
Helios Underwriting Plc
05 December 2016
 

5 December 2016

 

Helios Underwriting plc

("Helios" or the "Company")

 

2017 Underwriting Year Capacity

 

 

Helios is pleased to announce the capacity for 2017 underwriting year has been agreed at £32.6m including the capacity to be acquired with Salviscount LLP. We have continued our policy of focussing on the quality syndicates and capacity on weaker syndicates owned by LLV's acquired during the year was sold in the recent capacity auctions.

 

 

Helios Capacity as at 1st December 2016

 

 

 

 

Underwriting Year

2014

2015

2016

2017

 

£m

£m

£m

£m

Retained

20.7

16.1

10.8

9.8

Reinsured

14.8

16.2

22.9

22.8

Total Capacity

35.5

32.2

33.7

32.6

 

% of Total Capacity Retained

58.2%

49.8%

32.1%

30%

 

Helios will continue to reinsure 70% of the portfolio at the outset of the underwriting year to reduce "on-risk" exposures. The panel of reinsurers used will remain unchanged and on similar terms to previous years.

 

 

Following the capacity auctions that were held during November 2016, the average price of capacity of the Helios portfolio has increased by 9% to 45.7p per £ of capacity. This reflects the improvement in the quality of the portfolio of the underlying syndicates rather than reflecting any movement in average values achieved at the auction.

 

 Following the issue of shares from the Placing and Open Offer in September 2016, the capacity value per share has reduced to 102p per share.

 

 

Underwriting Year

2017

2016

As at

Dec-16

Dec-15

Capacity at 1st Jan - £m

32.6

28.1

Capacity Value - £m

14.9

11.8

Average price per £ of capacity

45.7

41.9

Number of shares in issue (m)

14.6

10.5

Capacity value per share - pence

102.2

112.1

 

 

The quality of the portfolio has been improved with the top 9 syndicate participations comprising over 80% of the capacity portfolio. These syndicates are managed by the leading managing agents at Lloyd's and represent shares in the better managed businesses in Lloyd's.

 

 

For further information please contact:

 

Helios

Nigel Hanbury - Chief Executive

Arthur Manners

 

020 7863 6655 / nigel.hanbury@huwplc.com

07754 965 917

 

 

Stockdale

Robert Finlay

 

 

020 7601 6100

 

 

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 £34 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 www.huwplc.com.

 

 

 

Additional Information

 

Set out below are details of Helios' syndicate participations for the 2017 underwriting year:

Helios Underwriting - Analysis of Portfolio - 2017

 

 

 

 

 

 

 

Syndicate

Managing Agent

Helios 2017 Capacity (£'000s)

% of Helios 2017 portfolio

Capacity Value of 2017 Portfolio - (£'000s)

% of the value of the portfolio

 

510

Tokio Marine Kiln Syndicates Ltd

5,522

16.9%

1,524

10.2%

 

623

Beazley Furlonge Ltd

4,781

14.7%

3,907

26.2%

 

2791

Managing Agency Partners Ltd

3,906

12.0%

1,893

12.7%

 

33

Hiscox Syndicates Ltd

3,299

10.1%

2,487

16.7%

 

609

Atrium Underwriters Ltd

3,186

9.8%

2,095

14.0%

 

6117

Ariel Re / Asta Managing Agency

2,495

7.6%

-

-

 

218

ERS Syndicate Management Ltd

1,791

5.5%

151

1.0%

 

727

S.A. Meacock

979

3.0%

826

5.5%

 

1176

Chaucer Syndicates - Nuclear

604

1.9%

1,474

9.9%

 

 

 

26,563

81.4%

14,355

96.2%

 

         

 

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