Quarterly Syndicate Forecasts

RNS Number : 3473Q

Helios Underwriting Plc

29 November 2016

 

29 November 2016

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 2014 and 2015 years of account based on 3^rdquarter 2016 results.

				Year of Account
				2014	2015	2016
				£m	£m	£m
Capacity
Position as at 28th November   2016
Retained				19.5	15.1	9.8
Reinsured				14.9	16.2	22.9
				34.4	31.3	32.7
Mid point forecast at 30th June  2016				11.31%	7.22%
Current  Mid point forecast				12.78%	7.55%	N/A
Lloyds Market Average				9.40%	3.30%
Helios outperformance				3.38%	4.25%

Notes

1)   There has been no change in the capacity of the Company since the previous announcement of quarterly results on 25^th August 2016.

2)   The mid point forecasts as of 3rd quarter 2016 have been aggregated at syndicate level from estimates supplied by Managing Agents

3)   The impact on Helios will be as follows:

a.   The increase in the mid point estimates for 2014 Year of Account on the retained capacity will be recognised in the Helios income statement this year.

b.   The overall improvement in the result will be received by Helios in cash when the profits are distributed after the close of the year of account.

For further information please contact:

Helios

Nigel Hanbury - Chief Executive                             07787 530404 / [e-mail]

Arthur Manners - Chief Financial Officer              07754 965917

Stockdale Securities                                                 020 7601 6100

Robert Finlay

Richard Johnson

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 £33 million of capacity for the 2016 account.  The portfolio provides a good spread of classes of business being concentrated in property insurance and reinsurance.  For further information, please visit www.huwplc.com. 

 

END

 

 

MSCPGGAWGUPQGQR