Helios Underwriting Plc Acquisition of further Limited Liability Vehicles (4153W)
December 22 2021 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 4153W
Helios Underwriting Plc
22 December 2021
22(nd) December 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of further Limited Liability Vehicles (LLVs)
Further to its announcement of 20 December 2021, Helios, the
unique investment vehicle that acquires and consolidates
underwriting capacity at Lloyd's, is pleased to announce the
completion of a further 3 LLV acquisitions. These vehicles have
been acquired for a total cash consideration of GBP3.9m, acquiring
syndicate capacity of GBP4.1m. The details are as follows:
Name Consideration Humphrey Discount
Valuation
GBP'000's GBP'000's %
Kunduz LLP 220 234 6%
Exalt Underwriting Limited 550 607 9%
Nameco (No 1110) Limited 3,085 3,164 2%
3,855 4,005 4%
============== =========== ==========
Name 2021 Capacity Capacity Turnover Profit
Value before
tax
GBP'000's GBP'000's GBP'000's GBP'000's
Kunduz LLP 640 251 663 (36)
Exalt Underwriting Limited 1,186 295 1,244 (52)
Nameco (No 1110) Limited 2,300 1,228 2,399 131
4,126 1,774
============== ===========
Terms have been agreed with a further 3 LLVs where completion is
subject, inter alia, to regulatory approval. It is expected that
these acquisitions will be completed shortly, and further
announcements will be made in due course.
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
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 GBP140m 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 .
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END
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