We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
-2.50 | -1.37% | 180.00 | 175.00 | 185.00 | 182.50 | 180.00 | 182.50 | 109 | 08:10:29 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Insurance Carriers, Nec | 148.35M | -3.32M | -0.0434 | -41.47 | 137.65M |
TIDMHUW
RNS Number : 4022U
Helios Underwriting Plc
29 March 2019
29th March 2019
Helios Underwriting plc
('Helios' or 'the Company')
Quarterly Syndicate Mid-point Forecasts
Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2016 and 2017 years of account based on 4th quarter 2018 results.
Nigel Hanbury, Chief Executive, commented:
"As the only listed consolidator of private capital at Lloyd's, Helios offers a unique opportunity for growth and returns from exposure to the Lloyd's market through targeted acquisitions of the better quality syndicates. Our strategy is bringing results, with returns on average 5.4% better than the Lloyd's market itself.
"Looking ahead, the number of LLV's for sale is increasing and we see attractive near-term opportunities to continue to build our core portfolio of capacity and achieve outperformance against the Lloyd's market as whole.
"We look forward to the future with confidence."
Year of Account 2016 2017 2018 2019 GBPm GBPm GBPm GBPm Capacity - Position as at 28(th) March 2019 Retained 35.1 28.9 18.7 16.1 Reinsured 19.9 25.4 38.2 37.6 -------- --------- ----- ----- 55.0 54.3 56.9 53.7 ======== ========= ===== ===== Mid-point forecast at 30(th) September 2018 5.51% (8.39%) Result / Current mid-point forecast 5.99% (9.53%) N/A Lloyd's Market Average (2.86%) (10.92%) Helios outperformance 8.85% 1.39%
Notes
1) The table above shows the capacity as at 28(th) March 2019 splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers. Helios acquired six limited liability vehicles during 2018 for a total consideration of GBP12.2m and in 2019 to date a single LLV has been acquired for GBP1.1m
2) The result for the 2016 year of account and the mid point forecasts for 2017 year of account as of 4th quarter 2018 have been aggregated at syndicate level from estimates supplied by Managing Agents
3) The Helios outperformance is measured using the result on the capacity at the end of the year - including the capacity of the portfolios acquired which include participations on underperforming syndicates that will subsequently be discarded. The effect of excluding the acquired capacity and basing the Helios outperformance against the mid-point forecasts on the capacity at the start of the underwriting year - the core Helios portfolio - versus the Lloyds Market average is shown below:
2016 2017 Result / Current mid-point forecast Core Portfolio 8.60% -8.26% Lloyd's Market Average -2.86% -10.92% Helios out performance 11.46% 2.66% ------------------------ ------- --------
4) The 2017 mid point estimates have been impacted by both the attritional losses that were incurred during 2018 and by the deterioration of forecasts of the 2017 losses by some syndicates.
5) The impact on Helios will be as follows:
a. The change in the mid point estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31(st) December 2018.
b. The overall change in the result will be recognised by Helios in cash at the close of the year of account.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 07787530 404 / nigel.hanbury@huwplc.com Arthur Manners - Chief Financial Officer 07754 965 917
Stockdale Securities Limited
Robert Finlay 020 7601 6100
David Coaten
Buchanan 020 7466 5000
Helen Tarbet
Henry Wilson
Hannah Ratcliff
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 GBP54m 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 rns@lseg.com or visit www.rns.com.
END
MSCPGUCGWUPBPUR
(END) Dow Jones Newswires
March 29, 2019 03:01 ET (07:01 GMT)
1 Year Helios Underwriting Chart |
1 Month Helios Underwriting Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions