Helios Underwriting Plc Syndicate Forecasts (1470I)
August 25 2016 - 5:55AM
UK Regulatory
TIDMHUW
RNS Number : 1470I
Helios Underwriting Plc
25 August 2016
25(th) August 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 2(nd) quarter 2016 results.
Year of Account
2014 2015 2016
GBPm GBPm GBPm
Capacity - Position
as at 24(th) August
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 31(st) March 2016 9.22% 6.98%
Current Mid
Point Forecast 11.31% 7.22% N/A
Lloyds Market
Average 8.15% 3.75%%
Helios Outperformance 3.16% 3.47%
Notes
1) There has been no change in the capacity of the Company since
the previous announcement of quarterly results on 7(th) June
2016.
2) The mid point forecasts as of 2(nd) 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 increase in the mid point estimates on the retained
capacity will be recognised in the Helios income statement this
year.
b. 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
http://www.huwplc.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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