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HELIOS UNDERWRITING PLC
M&A Activity • Oct 4, 2021
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M&A Activity
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National Storage Mechanism | Additional information 
RNS Number : 8158N
Helios Underwriting Plc
04 October 2021
4th October 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Further Limited Liability Vehicles (LLVs)
Helios, the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce the completion of four of the twenty LLV acquisitions referred to in its announcement of interim results on 30 September 2021 as having terms agreed. These LLVs have been acquired for an aggregate cash consideration of £2.5m, acquiring syndicate capacity of £2.6m. The details are as follows:
| Name | Consideration | Humphrey Valuation | Discount | |
| £'000's | £'000's | % | ||
| Kemah Lime Street Capital Limited | 480 | 499 | 3.8% | |
| Nameco (No 1130) Limited | 715 | 742 | 3.6% | |
| Nomina No. 070 LLP | 645 | 686 | 6.0% | |
| New Filcom Limited | 651 | 695 | 6.3% | |
| 2,491 | 2,622 | 5.0% | ||
| Name | 2021 Capacity | Capacity Value | Turnover | Profits before tax |
| £'000's | £'000's | £'000's | £'000's | |
| Kemah Lime Street Capital Limited | 502 | 184 | 615 1 | (43) 1 |
| Nameco (No 1130) Limited | 653 | 234 | 874 1 | 35 1 |
| Nomina No. 070 LLP | 1,044 | 474 | 1,105 1 | (34) 1 |
| New Filcom Limited | 364 | 190 | 1,272 2 | 149 2 |
| 2,563 | 1,082 |
1 Financial information per the latest available annual accounts; being for the year ended 31st December 2020
2 Financial information per the latest available annual accounts; being for the year ended 31st December 2019
It is expected that the remaining acquisitions will be completed shortly.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive +44 (0)7787 530 404 / [email protected]
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Shore Capital (Nomad and Broker)
Robert Finlay +44 (0)20 7601 6100
David Coaten
Willis Re Securities (Financial Adviser)
Alastair Rodger +44 (0)20 3124 6033
Buchanan (PR)
Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453
+44 (0)20 7466 5111
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 £110m of capacity for the 2021 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.
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