Helios Underwriting Plc Syndicate Forecasts (3556A)
June 07 2016 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 3556A
Helios Underwriting Plc
07 June 2016
7(th) June 2016
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 2014 and 2015 years of
account based on 1(st) quarter 2016 results.
Year of Account
2014 2015 2016
GBPm GBPm GBPm
Capacity - Position
as at 1st Jan 2016 29.2 26.8 28.1
------ ------ -----
Retained 14.3 10.6 8.4
Reinsured 14.9 16.2 19.7
Capacity acquired
since 1st Jan 2016
Retained 5.2 4.5 1.4
Reinsured - - 3.2
Capacity - Position as at
30th May 2016
Retained 19.5 15.1 9.8
Reinsured 14.9 16.2 22.9
34.4 31.3 32.7
====== ====== =====
Mid point forecast at 1st
Jan 8.93% N/A
Current Mid point
forecast 9.22% 6.98% N/A
Lloyds Market Average 5.96% 4.25%
Helios outperformance 3.26% 2.73%
Notes
1) The table shows the movement in capacity as result of
acquisitions made since 1(st) Jan 2016 splitting the capacity
retained by Helios and the capacity that is ceded to quota share
reinsurers.
2) The mid point forecasts as of 1(st) quarter 2016 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
Nigel Hanbury - Chief Executive 020 7863 6655 /
nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965917
Stockdale Securities 020 7601 6100
Robert Finlay
Rose Ramsden
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 GBP32 million of
capacity for the 2016 account. The portfolio provides a good spread
of classes 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
MSCUGUGUQUPQGQQ
(END) Dow Jones Newswires
June 07, 2016 02:00 ET (06:00 GMT)
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Jul 2023 to Jul 2024