Helios Underwriting Plc 2019 Capacity Update (7899M)

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RNS Number : 7899M

Helios Underwriting Plc

10 January 2019

Helios Underwriting plc

("Helios" or the "Company")

2019 Capacity Update

Helios is pleased to announce that its opening capacity for the 2019 underwriting year of account is GBP52.6m (GBP41m - at 1(st) January 2018), a 28% increase in opening capacity year on year. A summary of the movements in capacity during 2018 and the opening capacity for the 2019 underwriting year is set out below.

 
                                       Year of Account 
                                  2016   2017   2018   2019 
                                  GBPm   GBPm   GBPm   GBPm 
 Capacity - Position as at 1st 
  January 2018                    37.8   37.0   41.0 
                                 -----  -----  ----- 
 Retained                         17.9   11.6   12.3 
 Reinsured                        19.9   25.4   28.7 
 
 Capacity acquired during 2018 
 Retained                         16.1   16.1   6.0 
 Reinsured                         -            8.7 
 
 Capacity - Position as at 1st 
  January 2019 
 Retained                         34.0   27.7   18.3   15.8 
 Reinsured                        19.9   25.4   37.4   36.8 
                                  53.9   53.1   55.7   52.6 
                                 =====  =====  =====  ===== 
 

Notes

1) The table shows the movement in capacity in the year from 1(st) January 2018 separately showing the capacity acquired during 2018, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2) During 2018 Helios acquired six LLV's adding GBP14.7m of capacity to the capacity portfolio for the underwriting year.

Further to the Company's announcement of 11 December 2018, the short-term loan of GBP8.1m arranged by Helios to assist in the financing of the acquisition of the LLV with member number 54532L has been repaid in full as expected.

For further information, please contact:

Helios Underwriting plc

   Nigel Hanbury - Chief Executive                                                   07787530 404 / [e-mail] 
   Arthur Manners - Chief Financial Officer                                    07754 965 917 

Stockdale Securities Limited

Robert Finlay 020 7601 6100

David Coaten

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 GBP53m of capacity for the 2019 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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January 10, 2019 09:36 ET (14:36 GMT)