Helios Underwriting Share Discussion Threads

[ian davenport] 17/2/2021 21:26

sadly I missed the mistake - what did they post? Company not covering itself in glory, considering the last RNS I could find was about Hanbury's SIPP provider selling 20 shares by mistake.
Having said that , looking at the last 9 months chart is quite cheering!

[topvest] 17/2/2021 20:55

Yes, bit of a blunder - the valuations historically have an erroneous adjustment. To be honest, the valuation in the first place has always been met with scepticism given they were used for a related party transaction. Really, what is needed is positive cash flows to pay dividends. Even more pleased with my exit into Conduit Holdings. Have also doubled up on Beazley. Much better returns on offer!

[gilston] 17/2/2021 17:38

Yesterday`s RNS needs swift clarification. Just what is the adjusted NAV as at 31/12/20?

[gilston] 20/1/2021 17:46

Interesting appointment of Willis. What might this be leading up to?

[ian davenport] 11/1/2021 20:34

well done topvest , I did think at the time you might have timed it rather well. Im hanging on as obviously something afoot - this was held below 100 all the time the rights issue was going through, then suddenly the explosion. Im sure there is a story somewhere!

[topvest] 11/1/2021 19:06

Blimey - timed my small sale fantastically today. Bit of luck for once!

[topvest] 11/1/2021 09:26

Wow - not sure what's going on here, but I've exited at £2. I've become increasingly sceptical on their sub-scale business model of buying companies through the CEO based on a valuation and where the cost base is too high for the size of company. I have switched my holding into Conduit Holdings instead, basically following Aberforth Partners LLP. They don't normally invest in IPO's but the timing & management team looks a juicy prospect, so happy to follow their choice. Will keep this on the watch list, but happy to bag a profit for now on something that hasn't really been a winning investment choice.

[topvest] 08/1/2021 20:49

Insurance cycle is on the up is the reason.

[gilston] 08/1/2021 18:50

NAV last quoted [Sept 2020] at £2.07 per share.

[ian davenport] 08/1/2021 17:25

yep I've heard of good rates so far this year , but this seems a big mark up- suppose you could argue its just undoing an unnaturally low SP

[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 21:59

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 09:16

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 17:26

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 19:49

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 20:50

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 17:21

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 17:20

Do shareholders face another rights issue? Capacity auctions imminent.

[topvest] 09/6/2018 15:27

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.