Helios Underwriting Plc Quarterly Syndicate Mid-point Forecasts (0311X)

TIDMHUW

RNS Number : 0311X

Helios Underwriting Plc

21 November 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 3(rd) quarter 2017 results.

 
                                               Year of Account 
 
                                            2015     2016     2017 
                                            GBPm     GBPm     GBPm 
 Capacity - Position 
  at 1st Jan 2017                           32.2     33.7     32.6 
                                          -------  --------  ----- 
  Retained                                  16.1     10.9     9.8 
  Reinsured                                 16.2     22.8     22.8 
 
 Capacity acquired 
  since 1 January 
  2017 
  Retained                                  3.7       3.8     1.8 
                           Quota Share 
                            Commutation      -        3.3      - 
                                          -------  --------  ----- 
  Increase 
   in Retained                              3.7       7.1     1.8 
  Reinsured                                 0.4      (2.9)    2.6 
 
 Capacity - Position 
  as at 20(th) November 
  2017 
  Retained                                  19.8     18.0     11.6 
  Reinsured                                 16.6     19.9     25.4 
                                          -------  --------  ----- 
                                            36.4     37.9     37.0 
                                          =======  ========  ===== 
 
 
 
 Mid-point forecast 
  at 30(th) June 
  2017                                     10.82%    3.77% 
 Current mid-point 
  forecast                                 10.99%    2.98%    N/A 
 
 Lloyd's Market 
  Average 3rd Qtr                          4.63%    (2.72)% 
 Helios outperformance                     6.36%     5.70%

Notes

1) The tables show the movement in capacity as a result of acquisitions made since 1(st) Jan 2017 splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2) The mid point forecasts as of 3rd quarter 2017 have been aggregated at syndicate level from estimates supplied by managing agents.

3) The midpoint estimates for 2016 year of account have reduced during the quarter having been impacted by the 3(rd) quarter 2017 hurricane losses.

   4)    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 over the year 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 965 917

Stockdale

Robert Finlay 020 7601 6100

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 GBP36.3m 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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