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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Helios Underwriting Plc | LSE:HUW | London | Ordinary Share | GB00B23XLS45 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 165.00 | 160.00 | 170.00 | 165.00 | 165.00 | 165.00 | 4,256 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Insurance Carriers, Nec | 148.35M | -3.32M | -0.0434 | -38.02 | 126.18M |
TIDMHUW
RNS Number : 7206N
Helios Underwriting Plc
11 August 2017
Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid-Point Forecasts
Helios announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2015 and 2016 years of account based on 2(nd) quarter 2017 results.
Year of Account 2015 2016 2017 GBPm GBPm GBPm Capacity - Position at 1 January 2017 32.2 33.7 32.6 ------- ------ ----- Retained 16.1 10.8 9.8 Reinsured 16.2 22.9 22.8 Capacity acquired since 1 January 2017 Retained 2.4 2.5 0.9 Reinsured 0.4 0.4 2.2 Capacity - Position as at 1 August 2017 Retained 18.5 13.3 10.7 Reinsured 16.6 23.3 25.0 ------- ------ ----- 35.1 36.6 35.7 ======= ====== ===== Mid-point forecast at 31 March 2017 9.82% 3.48% Current mid-point forecast 10.82% 3.77% N/A Lloyd's Market Average 4.60% 0.45% Helios outperformance 6.22% 3.32%
Notes
1) The table shows the movement in capacity as result of acquisitions made since 1 January 2017 splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.
2) The mid point forecasts as of 2(nd) quarter 2017 have been aggregated at syndicate level from estimates supplied by Managing Agents
3) The impact on Helios will be as follows:
a. The additional capacity acquired on the open years will make a contribution to the earnings of Helios although part of the result will have been earned in prior years or will be treated as pre-acquisition profits.
b. The increase in the mid point estimates on the retained capacity will be recognised in the Helios income statement this year.
c. The overall improvement in the result will be received by Helios in cash when the profits are distributed after the close of the year of account.
For further information please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 020 7863 6655 / nigel.hanbury@huwplc.com
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 GBP35.7m of capacity for the 2017 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 company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 11, 2017 02:00 ET (06:00 GMT)
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