Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts (5133I)

TIDMHUW

RNS Number : 5133I

Helios Underwriting Plc

22 March 2018

Helios Underwriting plc

("Helios" or the "Company")

Quarterly Syndicate Mid-point Forecasts

Helios announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2015 and 2016 years of account based on 4th quarter 2017 results.

 
                                           Year of Account 
 
                                        2015     2016     2017   2018 
                                        GBPm     GBPm     GBPm   GBPm 
 
  Capacity - Position 
   as at 20(th) March 
          2018 
  Retained                               19.8      18.0   11.6   12.3 
  Reinsured                              16.6      19.9   25.4   28.7 
                                      -------  --------  -----  ----- 
                                         36.4      37.9   37.0   41.0 
                                      =======  ========  =====  ===== 
 
 
 
 Mid-point forecast 
  at 30(th) September 
  2017                                 10.99%     2.98% 
 Result / Current 
  mid-point forecast                   12.93%     3.48%    N/A 
 
 Lloyd's Market 
  Average                               6.40%   (4.06)% 
 Helios outperformance                  6.53%     7.54% 
 
 
 

Notes

1) The table shows the capacity as at 1(st) Jan 2018, with no acquisitions subsequently, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2) The result for the 2015 year of account and the mid point forecasts for 2016 year of account as of 4th quarter 2017 have been aggregated at syndicate level from estimates supplied by Managing Agents.

   3)    The impact on Helios will be as follows: 

a. The increase in the mid point estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31(st) December 2017.

b. The overall improvement in the result will be received by Helios in cash when the profits are distributed after the close of the year of account.

For further information please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive 020 7863 6655 / [e-mail]

   Arthur Manners - Chief Financial Officer                                            07754 965 917 

Stockdale Securities Limited

Robert Finlay 020 7601 6100

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 GBP40m of capacity for the 2018 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 company news service from the London Stock Exchange

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March 22, 2018 03:00 ET (07:00 GMT)