2019 Capacity Update

RNS Number : 7899M

Helios Underwriting Plc

10 January 2019

 

Helios Underwriting plc

("Helios" or the "Company")

2019 Capacity Update

Helios is pleased to announce that its opening capacity for the 2019 underwriting year of account is £52.6m (£41m - at 1^st January 2018), a 28% increase in opening capacity year on year.   A summary of the movements in capacity during 2018 and the opening capacity for the 2019 underwriting year is set out below.

	Year of Account
	2016	2017	2018	2019
	£m	£m	£m	£m
Capacity - Position as at 1st January 2018	37.8	37.0	41.0
Retained	17.9	11.6	12.3
Reinsured	19.9	25.4	28.7
Capacity acquired during 2018
Retained	16.1	16.1	6.0
Reinsured	-		8.7
Capacity - Position as at 1st January 2019
Retained	34.0	27.7	18.3	15.8
Reinsured	19.9	25.4	37.4	36.8
	53.9	53.1	55.7	52.6

Notes

1)    The table shows the movement in capacity in the year from 1^st January 2018 separately showing the capacity acquired during 2018, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2)    During 2018 Helios acquired six LLV's adding £14.7m of capacity to the capacity portfolio for the underwriting year.

Further to the Company's announcement of 11 December 2018, the short-term loan of £8.1m arranged by Helios to assist in the financing of the acquisition of the LLV with member number 54532L has been repaid in full as expected.

For further information, please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive                                                   07787530 404 / [e-mail]

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 £53m of capacity for the 2019 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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