Helios Underwriting Share Discussion Threads

[gilston] 08/1/2021 17:22

Rising premium rates.

[ian davenport] 08/1/2021 17:16

anyone got any views wants going on? v limited turnover recently but a decent spike in SP

[gilston] 06/11/2020 17:39

Yes, with Lloyds` premium rates still climbing.

At £100m of Lloyds` capacity, Helios would look a juicy morsel. RSA anyone?

[ian davenport] 06/11/2020 13:09

Rights Issue- anyone going to take theirs up? share price seems firmly attached to 120, so cant really see much value in it

[gilston] 01/6/2020 20:59

Earnings per share of 25.64p [diluted 24.86p] & profit after tax of £4.043m. Plus the portfolio is 70% re-insured for younger on-risk years.

[ian davenport] 29/5/2020 08:16

Nav of 206 but trading at 90! I know there are some losses coming down the pipeline, but I doubt more than10% each year, and a lot of the losses will be covered. Surprised this has only bounced 10 p so far

[gilston] 01/5/2020 16:26

Some more news or updates would be nice.

[gilston] 10/1/2020 21:46

Hopefully we will soon see a 2020 Capacity Update. No longer sub-scale but for availability of shareholder support, check out the principal shareholders.

[topvest] 08/6/2019 18:49

Looking at the Annual Report. Steady as she goes is the phrase that springs to mind. Obviously, returns have been poor for the last 2 years, with Lloyds having two loss making years on the trot. HUW is invested in the better syndicates and continues to out-perform. More capital is needed here though to get the fund to £100m. Anyway, happy to hold on and see what the future holds. The Board are certainly not young. Nigel Hanbury is 62 and the Chairman 71. Now is the time to be getting on with it and acquiring more, if they could only issue some shares at a premium. That's the problem I guess.

[topvest] 10/5/2019 19:50

It's a good time to be buying Lloyds syndicates at the moment in my view. They need to buy some at lower prices now.

[atholl91] 10/5/2019 16:21

Lloyds syndicates forecasting overall losses in 2017 & 2018 so results to be declared in 2020 &2021 will produce losses. Lloyds vehicles for sale are now selling at well below NAV so strategy of buying up vehicles at high prices in the past has failed. Sold out completely now because no confidence in Hanbury. He is a busted flush.

[gilston] 15/1/2019 17:46

At £52.6m capacity,this is no longer truly sub-scale. The Board`s strategy for the next 2/3 years would be useful to know. Will they continue to buy in & protect with reinsurance at the cost of ceding premium income? What is their target for capacity, if any? Why are they so vigorously buying back shares on the market; is that only to support NAV?

[gilston] 15/10/2018 16:20

Do shareholders face another rights issue? Capacity auctions imminent.

[topvest] 09/6/2018 14:27

Had a look through the Annual Report. Share buy backs and acquisitions planned. Seem to be doing OK, but still sub-scale. They have £3m of cash and a £1m bank loan with potentially another £1m to draw-down. Now is the time to maybe buy more capacity or do share buy-backs, but they only have limited financial firepower to do so. It's going to be a slow-burn here in my view. They need to move faster.

[topvest] 26/2/2018 20:21

No doubt this year's results will be poor along with a lower dividend. Future probably looks a little better.

[gilston] 26/2/2018 18:51

The share price when he was appointed CEO in Sept. 2012 was 0.72p. In June 2017 it reached £1.58 with a 5.5p divi. Not much value destruction there before the US cat losses of $136b. hit the market & Lloyds auction prices fell.

It`s easy to claim he "overpaid" for acquisitions but what is the evidence to support that? There did not appear to be much quality capacity available for sale much of that time.

I`m just curious, I have no personal connection with Hanbury other than Helios.

[atholl91] 26/2/2018 10:49

Gilston, I do not hate Hanbury. His job is to earn a total return for shareholders notwithstanding his own shareholding in Helios. He hasn't done that and should be replaced. I ran a listed company for 20 years earning a total return for my shareholders that exceeded the FTSE indices. I understand the pressure but when you use other people's capital you perform or you go.

[gilston] 22/2/2018 08:52

Why do you hate Hanbury so much? What has he ever done to you?

[atholl91] 22/2/2018 08:39

Thankfully sold out. Hanbury has presided over value destruction buying Lloyds vehicles at premiums which are now available at discounts to NAV. This has nothing to do with 2017 hurricanes. He should be removed & replaced with an experienced Insurance professional and quickly.

[gilston] 13/10/2017 16:47

Four hurricanes, two earthquakes & now Californian wildfires. Puerto Rico appears to be a total loss. Another month to go for the hurricane season.

The global insurance industry can expect some heavy claims.

[atholl91] 03/10/2017 08:39

Yes. Bought a little ahead of current price but never took up rights thankfully.

[topvest] 02/10/2017 17:40

Do you own shares here as well?

[atholl91] 02/10/2017 13:26

No - they have on balance the same quality as every Underwriting vehicle. It's no better than mine for instance. Good syndicates are limited. If Hanbury's Strategy is good where are the buyers of Helios shares. Lloyds members would be buying in droves if a Disc of 35% to NAV was a bargain. The Board should be buying in stock and that they're not tells you what the NAV is. Any Investment Trust Manager with this discount would be fired if not narrowing it now.

[topvest] 02/10/2017 11:54

I suppose it depends on the quality of the syndicates in each limited liability vehicle. Have they got a better than average mix as they say they have?