Helios Underwriting Plc Syndicate Forecasts (0630Q)
August 27 2014 - 2:01AM
UK Regulatory
TIDMHUW
RNS Number : 0630Q
Helios Underwriting Plc
27 August 2014
27 August 2014
Helios Underwriting plc
("HUW" or the "Company")
Syndicate Forecasts
Set out below are aggregated 2013 and 2012 open underwriting
year of account (YOA) forecasts of syndicate profits for HUW's
portfolio of syndicate participations:
2012 and 2013 open year of account forecasts
YOA HUW syndicate Previous forecast of Current forecast of syndicate
capacity (GBP000) syndicate profit profit
31 March 2014 30 June 2014
------ ------------------- ------------------------------- ---------------------------------
Mid Mid point Range Mid point Mid point Range
point (%) (%) (GBP000) (%) (%)
(GBP000)
------ ------------------- ---------- --------- -------- ------------ ---------- -------
5.57 - 6.42 -
2012 19,637 1,717 8.75 11.92 1,857 9.46 12.5
------ ------------------- ---------- --------- -------- ------------ ---------- -------
2.3 - 3.53 -
2013 19,700 1,322 6.73 11.17 1,462 7.45 11.37
------ ------------------- ---------- --------- -------- ------------ ---------- -------
Source: Syndicate data; Hampden Agencies Limited and HUW
analysis
Explanatory notes:
The tables above show the gross aggregated estimated profits at
syndicate level (before members' agent fees payable by HUW and its
subsidiaries) for the open years of the syndicates in which the
Company participates on a three year underwriting year of account
(YOA) basis. The figures are also before HUW's quota share and stop
loss reinsurance arrangements.
The forecast YOA syndicate profit for HUW is obtained by
applying the mid-point of the relevant estimated profit range to
each of HUW's syndicate participations.
The information presented above is actual and forecast YOA
information only prepared on a three year basis and should not be
considered as indicative of the Group's annually accounted expected
financial results to be prepared in accordance with International
Financial Reporting Standards.
Further details, including quarterly progression for all years
and syndicate results for closed years, will shortly be available
on HUW's website at www.huwplc.com.
HUW syndicate participation
HUW's syndicate participation in open years, on which YOA
information is based, is presented below and is also available on
the Company's website:
2012 2013 2014
---------- ----------------- ----------------- -----------------
Syndicate GBP'000 %* GBP'000 %* GBP'000 %*
---------- -------- ------- -------- ------- -------- -------
33 1,603 8.2% 1,604 8.1% 1,730 8.1%
---------- -------- ------- -------- ------- -------- -------
218 845 4.3% 918 4.7% 918 4.3%
---------- -------- ------- -------- ------- -------- -------
308 73 0.4% 70 0.4% 85 0.4%
---------- -------- ------- -------- ------- -------- -------
386 598 3.0% 598 3.0% 597 2.8%
---------- -------- ------- -------- ------- -------- -------
510 2,955 15.0% 2,937 14.9% 2,887 13.6%
---------- -------- ------- -------- ------- -------- -------
557 982 5.0% 511 2.6% 481 2.3%
---------- -------- ------- -------- ------- -------- -------
609 2,233 11.4% 2,189 11.1% 2,194 10.3%
---------- -------- ------- -------- ------- -------- -------
623 2,050 10.4% 2,243 11.4% 2,423 11.4%
---------- -------- ------- -------- ------- -------- -------
727 482 2.5% 484 2.5% 484 2.3%
---------- -------- ------- -------- ------- -------- -------
779 20 0.1% 20 0.1% - -
---------- -------- ------- -------- ------- -------- -------
958 828 4.2% 647 3.3% 515 2.4%
---------- -------- ------- -------- ------- -------- -------
1176 313 1.6% 360 1.8% 362 1.7%
---------- -------- ------- -------- ------- -------- -------
1200 242 1.2% 65 0.3% 65 0.3%
---------- -------- ------- -------- ------- -------- -------
1729 - - - - 38 0.2%
---------- -------- ------- -------- ------- -------- -------
2010 596 3.0% 598 3.0% 598 2.8%
---------- -------- ------- -------- ------- -------- -------
2121 157 0.8% 12 0.1% - -
---------- -------- ------- -------- ------- -------- -------
2525 132 0.7% 115 0.6% 115 0.5%
---------- -------- ------- -------- ------- -------- -------
2526 53 0.3% 57 0.3% - -
---------- -------- ------- -------- ------- -------- -------
2791 3,029 15.4% 3,082 15.6% 2,714 12.8%
---------- -------- ------- -------- ------- -------- -------
4242 96 0.5% 96 0.5% 96 0.5%
---------- -------- ------- -------- ------- -------- -------
5820 - - 108 0.5% 60 0.3%
---------- -------- ------- -------- ------- -------- -------
6103 333 1.7% 405 2.1% 392 1.8%
---------- -------- ------- -------- ------- -------- -------
6104 345 1.8% 416 2.1% 813 3.8%
---------- -------- ------- -------- ------- -------- -------
6105 117 0.6% 65 0.3% 319 1.5%
---------- -------- ------- -------- ------- -------- -------
6106 308 1.6% 271 1.4% - -
---------- -------- ------- -------- ------- -------- -------
6107 135 0.7% 10 0.1% 350 1.6%
---------- -------- ------- -------- ------- -------- -------
6110 393 2.0% 880 4.5% 925 4.3%
---------- -------- ------- -------- ------- -------- -------
6111 718 3.7% 910 4.6% 1,134 5.3%
---------- -------- ------- -------- ------- -------- -------
6113 - - 30 0.2% 20 0.1%
---------- -------- ------- -------- ------- -------- -------
6117 - - - - 970 4.6%
---------- -------- ------- -------- ------- -------- -------
Total 19,637 100.0% 19,700 100.0% 21,285 100.0%
---------- -------- ------- -------- ------- -------- -------
* Percentage of total syndicate portfolio
For further information please contact:
HUW Nigel Hanbury nigel.hanbury@huwplc.com
Smith & Williamson Corporate
Finance David Jones 020 7131 4000
Robert Finlay
Westhouse Securities Darren Vickers 020 7601 6100
About Helios Underwriting
HUW 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). HUW's subsidiary underwriting
vehicles trade within the Lloyd's insurance market as corporate
members of Lloyd's writing GBP21.3 million of capacity for the 2014
account. The portfolio provides a good spread of classes of
business being concentrated in property insurance, reinsurance and
motor business. 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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