Helios Underwriting Plc Net Asset Value as at 30 September 2023 (2329W)
December 11 2023 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 2329W
Helios Underwriting Plc
11 December 2023
11 December 2023
Helios Underwriting plc
('Helios' or 'the Company')
Update on Net Asset Value as at 30(th) September 2023
Pro-forma - NTA per share of 176p
Helios, the investment vehicle which builds shareholder value
through exposure to Lloyd's, announces the pro-forma Net Asset
Value per share as at 30(th) September 2023 has increased by 25p -
an increase of 17% to GBP1.76.
Martin Reith, Chief Executive, commented :
"Helios' proposition as the investment vehicle with a curated
Lloyd's portfolio continues to go from strength to strength. The
net combined ratio of the portfolio for the nine months was 88%
contributing to the growth in net asset value.
"Market conditions at Lloyd's remain strong, as reflected in the
results of the recent capacity auctions where the pre-emptions on
the freehold syndicates and the increase in auction prices have
contributed a further 18p to the net asset value."
Growth in Net Asset Value
Net Asset
Value GBP Net Assets
per share GBP000's
Revised Net asset value per share
as at 31/12/22 - Note 1 1.51 115,711
Profits/(loss) for period to 30th
September 2023 0.10 6,419
Capacity Revaluation - Note 2 0.18 13,903
Dividend Paid (0.03) (2,293)
Pro-forma Net Asset per Share - 30th
Sept 1.76 133,740
============= ===========
Shares in issue at 30th September
2023 75,646
Note 1 - the Net Asset Value as at 31 Dec 2022 has been restated
to reflect the adjustment to the Net Assets having adopted UK GAAP
from 1(st) Jan 2023.
Note 2 - the Lloyd's capacity Auctions for 2023 were completed
in November 2023 and the resulting increase in value was announced
on 8(th) November 2023. The increase in the net asset value has
been included in the pro-forma net asset value per share as at
30(th) September 2023
For further information, please contact:
Helios Underwriting plc
Helios Underwriting plc
Martin Reith - Chief Executive +44(0)7720 292 505
Nigel Hanbury - Executive Deputy Chairman +44(0)7787 530 404
Arthur Manners - Chief Financial Officer +44(0)7754 965 917
Numis (Nomad and Broker)
Giles Rolls / Charles Farquhar +44 (0)20 7260 1000
Buchanan (PR)
Helen Tarbet / 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 GBP311m of capacity
for the 2023 account. The portfolio provides a good spread of
business being concentrated in property & casualty insurance
and reinsurance. For further information please visit
www.huwplc.com.
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END
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