HELIOS UNDERWRITING PLC

Earnings Release • Nov 18, 2019

National Storage Mechanism | Additional information

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RNS Number : 6521T

Helios Underwriting Plc

18 November 2019

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)

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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