Helios Underwriting Plc Quarterly Syndicate Mid-Point Forecasts (8183H)

TIDMHUW

RNS Number : 8183H

Helios Underwriting Plc

20 November 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 3(rd) quarter 2018 results.

 
                                         Year of Account 
                                      2016        2017     2018 
                                         GBPm        GBPm  GBPm 
Capacity - Position as at 1st 
 Jan 2018                                37.8        37.0  41.0 
                                   ----------  ----------  ---- 
Retained                                 17.9        11.6  12.3 
Reinsured                                19.9        25.4  28.7 
 
Capacity acquired since 1st Jan 
 2018 
Retained                                  5.4         4.9   2.9 
Reinsured                                   -           -   1.4 
 
Capacity - Position as at 15th November 
 2018 
Retained                                 23.3        16.6  15.2 
Reinsured                                19.9        25.4  30.1 
                                         43.3        41.9  45.3 
                                   ==========  ==========  ==== 
 
Mid-point forecast at 30th June 
 2018                                   5.35%     (7.40%) 
Current mid-point forecast              5.51%     (8.39%) 
 
Lloyd's Market Average                (4.50%)     (9.50%) 
Helios' out performance                10.01%       1.11%

Notes

1) The table shows the capacity as at 1(st) Jan 2018 separately showing the capacity acquired to date, 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 3(rd) quarter 2018 have been aggregated at syndicate level from estimates supplied by Managing Agents.

3) The deterioration of the 2017 mid-point forecast result has been impacted by the result of the capacity acquired during the year. The current mid-point forecast for 2017 for the portfolio as at 1(st) January 2018 is (7.60%).

4) 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.

For further information, please contact:

Helios Underwriting plc

   Nigel Hanbury - Chief Executive                                                    07787530 404 / nigel.hanbury@huwplc.com 
   Arthur Manners - Chief Financial Officer                                     07754 965 917

Stockdale Securities Limited

Robert Finlay 020 7601 6100

David Coaten

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 GBP45m 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.

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