HELIOS UNDERWRITING PLC

Board/Management Information • Apr 21, 2021

National Storage Mechanism | Additional information

RNS Number : 0905W

Helios Underwriting Plc

21 April 2021

21 April 2021                                                     

Helios Underwriting plc

('Helios' or 'the Company')

Directorate Changes

Further to its announcement of 8 March 2021, Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, is pleased to announce the appointment of Tom Libassi and Martin Reith as Non-Executive Directors of the Company with immediate effect.

Tom Libassi is the Co-Founder and Managing Partner of ILS Capital Management, an investment firm specialising in insurance-linked securities, of which funds under management of, or associated with, participated in the Company's recent fundraising. Prior to founding ILS Capital, Mr. Libassi was a Managing Director at Strategic Value Partners as well as holding the position of Chairman at Mach Gen LLC. From 2000 to 2007, Mr. Libassi was a Senior Managing Director at GSC Group where he founded the corporate lending group and served as a senior investment professional. From 1994 to 2000, Mr. Libassi was Senior Vice President and Portfolio Manager at Mitchell Hutchins, a subsidiary of PaineWebber Inc., where he was responsible for managing approximately $1.2 billion of high yield assets for the Paine Webber Mutual Funds. In 1998, Mr. Libassi developed and launched the approximately $550 million Managed High Yield Plus Fund, a leveraged closed-end fund. From 1986 to 1994, Mr. Libassi was a Vice President and Portfolio Manager at Keystone Custodian Funds, Inc., with portfolio management responsibilities for three diverse institutional high yield accounts with $250 million in collective assets. Mr. Libassi received an M.B.A. from the University of Pennsylvania and a B.A. in Economics and Government from Connecticut College.

Martin Reith has over 30 years' experience across underwriting, management and leadership. Most recently, he held board positions at Neon Underwriting Limited, as CEO from 2015 to 2019 and then assumed a Non-Executive role until 2020. He was the Founder and CEO of Ascot Underwriting Limited, which he established in 2001 with the support and backing of AIG. Under Mr. Reith's leadership, Ascot became one of the largest and top-performing businesses in Lloyd's with a network of overseas offices. In 2009, Mr. Reith stepped down as CEO and served as a Non-Executive on Ascot's Board from 2009 to 2011. Prior to Ascot, he served as CEO of XL Capital's Insurance Operations in London. He is the founder of his family's charitable trust and former Chairman of Derby-based charity, The Maria Hanson Foundation. He has also been a member of the Board of Directors at AmWINS Group Inc., and has previously served as Advisory Director to Securis Investment Partners LLP, an ILS fund based in London.

Further information in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies is set out below.

Nigel Hanbury, Chief Executive of the Company, commented: "I am delighted that we have been able to attract two individuals of such reputation, experience and calibre to work with us at Helios Underwriting as we continue to grow the business and accelerate our consolidation of underwriting capacity at Lloyd's. On behalf of the Board, I welcome Tom and Martin to the Company and look forward to working together during these exciting times in a hardening insurance market."

For further information, please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive                                               +44 (0)7787 530 404 / nigel.hanbury@huwplc.com

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

Quentin Perrot                                                                           +44 (0)20 3124 6499  

Buchanan

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.

Appendix - AIM Rule 17

Regulatory disclosures (in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies).

Thomas "Tom" John Libassi, aged 62, holds or has held in the last 5 years the following directorships and/or partnerships. Tom does not hold ordinary shares in Helios Underwriting personally ("Shares"), but is the Co-founder and Managing Partner of ILS Capital Management Limited, which funds under management of, or associated with, holds 13,000,000 Shares, representing 19.2 per cent. of the Company's issued share capital.

Current Directorships/Partnerships
Any Connected, Inc
Boatswain Capital Management Limited
Evolution Risk MGA LLC
ILS Capital Management Ltd.
ILS Capital Management LLC
National Public Pension Plan Association
Producers National Corporation
Prospero Re Ltd.
The 1609 Fund Ltd

Martin Robert Davidson Reith, aged 56, holds or has held in the last 5 years the following directorships and/or partnerships. Martin holds 130,161 Shares, representing 0.2 per cent. of the Company's issued share capital.

Current Directorships/Partnerships	Past Directorships/Partnerships
Bellmall Energy (Pty)	Beat Capital Partners Limited
Essendon Partners Limited	Chord Reinsurance Limited
JJ Commercial Property Limited	Convoy Escort Programme Limited
JJ Locations Limited	DUPI Underwriting Agencies Nordics A/S
JJ Media Group Limited	MNLR LLP
JJ Property Investments Limited	Neon Capital Limited
Reith Capital LLP	Neon Holdings (U.K.) Limited
	Neon Management Services Limited
	Neon Service Company (U.K.) Limited
	Neon Underwriting Limited
	Tarian Underwriting Limited
	Vanta Capital UK Limited

There are no further disclosures to be made in relation to Tom Libassi or Martin Reith in accordance with Schedule Two paragraph (g) of the AIM Rules for Companies.

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