Trading Update

Helios Underwriting plc

("Helios" or the "Company")

Trading update

Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, announces an update on its financial results for the year ended 31st December 2018, which are expected to be released on 30th May 2019.

Annual results from Helios's syndicate participations have now been received and Adjusted Net Asset value per share is expected to increase substantially by 19% to 190p (160p - 31st December 2017) as the enlarged portfolio benefitted from increased capacity values. Although a satisfyingly large increase, it is nevertheless slightly lower than original market expectations of 199p as:

· the capacity value per share is expected to be 5p lower as an anticipated acquisition of an LLV with £1.2m of capacity was delayed into 2019 and as the portfolio mix changed during the year from capacity acquired and affected the average price of capacity at the year end; and

· the Net Tangible Assets per share is expected to be 4p lower, mainly as the operating profits are expected to be approximately £600,000, reflecting the market losses in the last quarter of 2018 reducing the contribution of the underwriting from 2018, whilst negative goodwill arising from the LLVs acquired was lower than expected.

The Board of Helios views Adjusted Net Asset Value as its key performance indicator and the increase over 2017's figure demonstrates the improved outlook for the market being reflected in improved capacity values as well as the numerous advantageous acquisitions made during 2018 as we efficiently deployed our available resources. This enabled us to increase our capacity portfolio in 2018 by £15m, an increase of 36% over an opening position of £41m. The opening capacity for 2019 of £53m has been increased by an acquisition to £54m.

Nigel Hanbury, Chief Executive of the Company, commented: "This is a robust performance achieved against a challenging market background. Our growth strategy remains the same: to take advantage of our position as sole listed consolidator of high quality LLVs which have the capacity to generate above-market returns for shareholders. There is a strong pipeline of potential acquisitions."

For further information please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive 07787 530 404 / nigel.hanbury@huwplc.com

Arthur Manners - Chief Financial Officer 07754 965 917

Stockdale Securities Limited

Robert Finlay/David Coaten 020 7601 6100

Buchanan 020 7466 5000

Helen Tarbet

Henry Wilson

Hannah Ratcliff

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 £54m 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.