Helios Underwriting Plc Acquisition of Further Limited Liability Vehicles (8158N)
October 04 2021 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 8158N
Helios Underwriting Plc
04 October 2021
4(th) October 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Further Limited Liability Vehicles ( LLVs )
Helios, the unique investment vehicle that acquires and
consolidates underwriting capacity at Lloyd's, is pleased to
announce the completion of four of the twenty LLV acquisitions
referred to in its announcement of interim results on 30 September
2021 as having terms agreed. These LLVs have been acquired for an
aggregate cash consideration of GBP 2.5m , acquiring syndicate
capacity of GBP 2.6m . The details are as follows:
Humphrey
Name Consideration Valuation Discount
GBP'000's GBP'000's %
Kemah Lime Street Capital
Limited 480 499 3.8%
Nameco (No 1130) Limited 715 742 3.6%
Nomina No. 070 LLP 645 686 6.0%
New Filcom Limited 651 695 6.3%
2,491 2,622 5.0%
============== =========== ==========
Profits
Capacity before
Name 2021 Capacity Value Turnover tax
GBP'000's GBP'000's GBP'000's GBP'000's
Kemah Lime Street Capital (43)
Limited 502 184 615 (1) (1)
Nameco (No 1130) Limited 653 234 874 (1) 35 (1)
(34)
Nomina No. 070 LLP 1,044 474 1,105 (1) (1)
149
New Filcom Limited 364 190 1,272 (2) (2)
2,563 1,082
============== ===========
(1) Financial information per the latest available annual
accounts; being for the year ended 31(st) December 2020
(2) Financial information per the latest available annual
accounts; being for the year ended 31(st) December 2019
It is expected that the remaining acquisitions will be completed
shortly .
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) NO 596/2014.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive +44 (0)7787 530 404 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Shore Capital (Nomad and Broker)
Robert Finlay +44 (0)20 7601 6100
David Coaten
Willis Re Securities (Financial Adviser)
Alastair Rodger +44 (0)20 3124 6033
Buchanan (PR)
Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453
+44 (0)20 7466 5111
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 GBP110m of capacity
for the 2021 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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQUPGAAUUPGGQG
(END) Dow Jones Newswires
October 04, 2021 02:00 ET (06:00 GMT)
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From May 2024 to Jun 2024
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Jun 2023 to Jun 2024
