Helios Underwriting Plc Quarterly Syndicate Mid-Point Forecasts (7947O)
May 22 2018 - 6:43AM
UK Regulatory
TIDMHUW
RNS Number : 7947O
Helios Underwriting Plc
22 May 2018
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 2016 and 2017 years of
account based on 1st quarter 2018 results.
Year of Account
2016 2017 2018
GBPm GBPm GBPm
Capacity - Position as at
21(th) May 2018
Retained 17.8 11.6 12.3
Reinsured 20.0 25.4 28.7
--------- -------- -----
37.8 37.0 41.0
========= ======== =====
Mid-point forecast at 31(st) 3.48% N/A
December 2017
Current mid-point forecast 4.22% (8.39)%
Lloyd's Market Average (3.62)% (7.99)%
Helios out / (under) performance 7.84% (0.40)%
Notes
1) The table shows the capacity as at 31(st) December 2017, with
no acquisitions subsequently, splitting the capacity retained by
Helios and the capacity that is ceded to quota share
reinsurers.
2) The mid point forecasts for 2016 and 2017 years of account as
of 1st quarter 2018 have been aggregated at syndicate level from
estimates supplied by Managing Agents.
3) 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 improvement in the result will be received by
Helios in cash when the profits are distributed after the close of
the year of account.
4) The 2017 year of account mid point loss is in line with
expectations at this time of development of the underwriting
year.
For further information please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 020 7863 6655 /
nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965 917
Stockdale Securities Limited
Robert Finlay/David Coaten 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 GBP41m of capacity
for the 2018 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
MSCPGURGAUPRGBG
(END) Dow Jones Newswires
May 22, 2018 02:00 ET (06:00 GMT)
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Sep 2024 to Oct 2024
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Oct 2023 to Oct 2024