Helios Underwriting Share Discussion Threads

[atholl91] 24/11/2015 08:20

Q3 Estimates for 2013 - current year - released on 19 Nov by Lloyds. They are very good so no excuse for HUW to do the same. After the poor interims lets see.......

[atholl91] 16/10/2015 17:39

Agreed Topvest. Will have a better handle on the year when my Q3 Syndicate estimates are out next month.

[topvest] 25/9/2015 14:20

Not based on these very poor interim results...surprised.

[atholl91] 24/8/2015 12:49

Looks like 30 June estimates could bring EPS for 2015 to 18p (PER 11x) with dividends of 7.5p.

[gilston] 15/7/2015 18:28

More Lloyds`capacity being acquired in exchange for paper shares, so preserving cash.

[gilston] 03/6/2015 16:36

Good results & 5.1p dividend. Scrip issue as an alternative will be a good way of retaining cash for more acquisitions of Namecos.

[atholl91] 17/3/2015 08:04

Syndicate Profit £3.1m against £1.3m last year should be large increase in Dividend on the cards.

[atholl91] 07/3/2015 06:31

2012 syndicates results now out and overall exceed expectations so significant increase in dividend must be on cards?

[gilston] 20/2/2015 17:25

It would be interesting to know the current NAV after all these acquisitions.

[ian davenport] 18/2/2015 16:59

latest RNS even more interesting!

[ian davenport] 18/2/2015 09:19

Hanbury's trade explains yesterdays moves on not much activity - and shows just how illiquid this is - definitely one to buy and hold, not to try and job around

[atholl91] 18/2/2015 08:09

Looks like strong results for 2012 underwriting year starting to come through and 2013 shaping up well. CEO buys at 145 interesting.

[topvest] 23/5/2014 09:36

Solid results and dividend policy initiated. Bit disappointed that I sold these at 110p. Still, why buy at 160p on such a premium. Crazy!

[gilston] 06/1/2014 19:28

HUW now owns £20.2M prime Lloyds capacity on its balance sheet priced off the 2013 autumn auctions. Demand outstripped supply as apparently capacity was perceived to be a non-correlated asset with equities/bonds. Prices therefore rose. So did HUW`s nav. & this has been recognised in the market share price

Reinsurance of half of the 2013 p`folio released cash £4.1m FAL which is being disbursed on buying in more capacity. It also bought some protection against direct claims exposure which is one of the principal benefits of reinsurance.

Just watch HUW`s balance sheet.

[topvest] 06/1/2014 19:01

There is a lot they can do about it. They need to raise funds at a premium to NAV to acquire more corporate members. They need to be many times bigger than they currently are. Only at that point are they truly a business worth backing. They are at the mercy of Lloyds, but that is always going to be the case and on a medium or long term basis this gives a good return.

[ian davenport] 06/1/2014 18:25

I have held some since the original issue - doubt they will pay a dividend as the priority I would have thought was to add to size to try and resolve that cost base issue
the business model is entirely at the mercy of how Lloyds performs, there's not a lot they can do about that

[topvest] 06/1/2014 17:51

Yes, gutted on selling this one before it took off. Surprised by the recent rise. It's still too small for the cost base. Will keep watching though as would welcome an opportunity to get back in once 1. the business model shows signing of being sustainable. 2. the price is below NAV and 3. They start a dividend policy.

[topvest] 06/1/2014 17:50

Yes, gutted on selling this one before it took off. Surprised by the recent rise. It's still too small for the cost base. Will keep watching though as would welcome an opportunity to get back in once 1. the business model shows signing of being sustainable and 2. the price is below NAV.

[ian davenport] 06/1/2014 16:08

good to see there is a thread for a relatively minor share like this - watch out for the name change to Helios (I think) soon
Gilston, the capacity auctions now a relatively minor part of the Lloyds market,
Lloyds should have had a great 2013 with no hurricane losses in US, although I guess that will have an impact on renewal rates. The HUW business model should capture that nicely

[gilston] 30/12/2013 17:22

Still going up.

[gilston] 23/9/2013 15:49

More buying ahead of the Lloyds` capacity auctions.

[gilston] 19/8/2013 16:12

Nice uptick, presumably on improving Lloyds syndicate forecasts for 2011 & 2012 increasing nav.

[topvest] 02/8/2013 10:45

I have sold mine at a 50% profit in 12 months. Only had a small holding, but I was hoping they could grow at a quicker rate. Dividend prospects have diminished and latest re-insurance route only gives them £4-5m of firepower. Too small at the moment, but might buy in again if somebody starts selling big style and the price goes significantly below book value again.

[topvest] 29/7/2013 19:38

Yes, interesting. It's a shame that they haven't been able to raise equity though as this would be a very attractive vehicle at 10x the size. Management are a very astute bunch though - their parent company is very profitable.

[gilston] 29/7/2013 18:10

Clever reinsurance arrangement freeing up some cash. The market seems to like it as well.