Helios Underwriting Share Discussion Threads

[atholl91] 02/10/2017 09:04

Topvest. They are using a valuer who had cornered the market in valuing Lloyds vehicles and as I've noted before the NAV is overstated. If it wasn't why no buyback when Disc -35%. This is the best way to use funds. Lloyds vehicles now at discounts to NAV and being offered every week.

[topvest] 29/9/2017 13:45

Yes, agreed rather poor. Due to this really which is all a bit odd given the US$ rate changed last year. No quantification either!

Operating costs have increased as a loss on the conversion of the US$ profits to sterling received in the distribution from the 2014 underwriting year was realised.

Nevertheless, the outlook is probably better as more bargains to be had with big losses in H2 2017 for all Lloyd's insurers.

This vehicle is ideal and should have done a better job raising capital and getting to a critical mass than they have done. Still too small and missed an opportunity to raise more than they did earlier in the year.

[atholl91] 29/9/2017 08:21

Poor interim results. Disc to NAV now 35% which clearly indicates that the market has no confidence in this strategy. They should be buying in shares. I reiterate my view that until Hanbury goes this will continue to underperform.

[atholl91] 29/8/2017 13:43

He has been buying Lloyds vehicles at high prices and these vehicles have now become available at much lower prices in greater volume than the market has ever seen.Lloyds has had superb results over the past three years, seen bids for quoted insurers with Lloyds interests at good premiums to NAV and this stock has gone nowhere. Need the cobwebs swept away.

[topvest] 10/8/2017 12:52

What's the problem with Hanbury?

[atholl91] 10/8/2017 11:32

Price back to where it was 3 years ago. Lloyds has produced excellent results during this period with Management buying vehicles at prices which now look inflated. Until Hanbury has gone this will never realise value for shareholders.

[ian davenport] 07/4/2017 10:43

interesting move today on not much trade and no obvious news- anyone seen anything?

[atholl91] 15/3/2017 09:33

Lloyds has had an excellent Underwriting results in 2014 as shown by Helios today helped by strong USD - no excuses this time for not increasing dividends to compensate for mediocre share price performance.

[topvest] 02/2/2017 18:59

Well I like this one. Just need to increase their scale a bit more rapidly.

[gilston] 02/2/2017 18:14

After the 2016 Sept. placing, Hanbury held 1.4m shares & his pal Will Roseff held 3.536m shares. Helium acquired 866,667 shares, so no lack of confidence there after raising nearly £6m. cash @ £1.50 per share.

[atholl91] 26/1/2017 12:33

If HUW is undervalued why has Hanbury taken £900k in cash for selling his vehicle to HUW instead of shares. He owns under 20% of the equity so easily able to do this. Not confidence building?

[atholl91] 26/1/2017 12:28

Think the NAV is overstated. It's based on the accountants who have cornered the market in Lloyds vehicle valuations. Hanbury overpays for vehicles based on these NAV valuations. 70% is re-insured so HUW doesn't collect the profits. He has picked up an excellent Underwriting portfolio but the market doesn't rate him.

[gilston] 22/1/2017 14:34

Rather depends on the current NAV. Any guesses?

[topvest] 20/1/2017 20:15

Think he's doing OK to be honest. Its a bit slow progress, but at least its heading in the right direction. Will look to double-up on further weakness.

[gilston] 20/1/2017 18:02

Hanbury is not going to step down when he owns a large shareholding, so what do you think he should be doing?

[atholl91] 18/1/2017 09:37

The shares are back to where they were 3 years ago. My confidence in Hanbury running this is wavering.

[gilston] 05/10/2016 16:29

Directors may be hoping to pick up some capacity in the forthcoming auctions.

[topvest] 30/9/2016 20:29

Interims are good and the fundraising is sensible, albeit with more of a discount than you would ideally like. I've bought back in, albeit I will miss the record date for the open offer. Shouldn't have sold out a few years back. Think the strategy is good and this could be a very attractive vehicle once they gather more of a following in the city. Think they are definitely heading in the right direction!

[atholl91] 20/9/2016 13:12

Interims due - should be interesting as Lloyds continue to produce strong results ?

[gilston] 02/6/2016 17:39

Scrip dividend being offered as an alternative to cash, price discount not yet published as far as I know.

[atholl91] 02/6/2016 11:05

Gilston can you explain why the 4 Lloyds Quoted Corporates trade at premiums of between 47-88% of NAV and Helios is at 10% Discount? Do you think giving away 70% by Re-ins cover is the problem?

[topvest] 31/5/2016 20:33

Steady, if unspectacular progress. Share price continues to weaken. They need more capital really to spread the cost base over more assets. Still, an interesting company. Will look to get back in when the price is attractive.

[gilston] 31/5/2016 19:51

Good 2015 final results today with increased capacity, 5p dividend & 70% reinsurance protection. NAV estimated at £1.97.

[gilston] 26/11/2015 17:34

The s.p.has gone up this year from about 1.20p to 2.00p reflecting the increase in net asset value.

What more do you want?