HELIOS UNDERWRITING PLC

Capital/Financing Update • Dec 3, 2015

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9010H

Helios Underwriting Plc

03 December 2015

3 December 2015

Helios Underwriting plc

("HUW" or the "Company")

Syndicate Forecasts

Set out below are the aggregated 2013 and 2014 underwriting year of account (YOA) forecasts of syndicate profits for HUW's portfolio of syndicate participations:

2013 and 2014 open year of account forecasts

YOA	HUW syndicate capacity (£000)	Previous forecast of syndicate profit 30 June 2015			Current forecast of syndicate profit 30 September 2015
Mid point (£000)	Mid point (%)	Range (%)	Mid point (£000)	Mid point (%)	Range (%)
2013	27,032	2,963	10.96	7.84 - 14.09	3,048	11.28	8.24 - 14.31
2014	29,174	2,168	7.43	3.28 - 11.58	2,339	8.02	3.88 - 12.16

Source: Syndicate data; Hampden Agencies Limited and HUW analysis

Explanatory notes:

The table above shows the gross aggregated estimated profits at syndicate level (before members' agent fees payable by HUW and its subsidiaries) for the syndicates in which the Company participates on a three year underwriting year of account (YOA) basis.  The figures are also before HUW's quota share and stop loss reinsurance arrangements.  The forecast YOA syndicate profit for HUW is obtained by applying the mid-point of the relevant estimated profit range to each of HUW's syndicate participations.  The information presented above is prepared on a three year YOA basis and should not be considered as indicative of the Group's annually accounted financial results prepared in accordance with International Financial Reporting Standards.  Further details, including quarterly progression for all years and syndicate results for closed years, will shortly be available on HUW's website at www.huwplc.com.

HUW syndicate participation

HUW's syndicate participations, on which YOA information is based, is presented below and is also available on the Company's website:

	2013		2014		2015
Syndicate	£'000	%*	£'000	%*	£'000	%*
33	2,121	7.8%	2,276	7.8%	2,277	8.5%
218	1,343	5.0%	1,343	4.6%	1,074	4.0%
308	70	0.3%	85	0.3%	85	0.3%
386	813	3.0%	840	2.9%	717	2.7%
510	4,493	16.6%	4,444	15.2%	4,494	16.8%
557	546	2.0%	516	1.8%	516	1.9%
609	2,528	9.4%	2,533	8.7%	2,586	9.7%
623	2,943	10.9%	3,179	10.9%	2,963	11.1%
727	660	2.4%	661	2.3%	686	2.6%
779	20	0.1%	-	-	-	-
958	897	3.3%	714	2.4%	210	0.8%
1176	474	1.8%	476	1.6%	476	1.8%
1200	160	0.6%	160	0.5%	95	0.4%
1729	-	-	107	0.4%	69	0.3%
2010	919	3.4%	919	3.1%	804	3.0%
2014	-	-	327	1.1%	1,185	4.4%
2121	120	0.4%	160	0.5%	260	1.0%
2525	141	0.5%	141	0.5%	141	0.5%
2526	60	0.2%	-	0.0%	-	0.0%
2791	4,388	16.2%	3,864	13.2%	3,412	12.7%
4242	177	0.7%	177	0.6%	200	0.7%
5820	224	0.8%	220	0.8%	160	0.6%
6103	550	2.0%	521	1.8%	210	0.8%
6104	611	2.3%	1,088	3.7%	1,088	4.1%
6105	115	0.4%	502	1.7%	517	1.9%
6106	362	1.3%	-	-	-	-
6107	33	0.1%	373	1.3%	373	1.4%
6110	1,073	4.0%	925	3.2%	-	-
6111	1,122	4.2%	1,385	4.7%	1,395	5.2%
6113	67	0.2%	67	0.2%	-	-
6117	-	-	1,171	4.0%	773	2.9%
7227	-	-	-	-	3	0.0%
Total	27,032	100.0%	29,174	100.0%	26,767	100.0%

* Percentage of total syndicate portfolio

For further information please contact:

HUW	Nigel Hanbury	nigel.hanbury@huwplc.com
Smith & Williamson Corporate Finance	David Jones	020 7131 4000
Westhouse Securities	Robert Finlay	020 7601 6100

About HUW

HUW 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).  HUW's subsidiary underwriting vehicles trade within the Lloyd's insurance market as corporate members of Lloyd's writing £27 million of capacity for the 2015 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCUGGGWPUPAGGW