Syndicate Forecasts

RNS Number : 3011P

Helios Underwriting Plc

05 June 2015

 

5 June 2015

Helios Underwriting plc

("HUW" or the "Company")

Syndicate Forecasts

Set out below are the aggregated 2013 and 2014 underwriting year of account (YOA) forecasts of syndicate profits for HUW's portfolio of syndicate participations:

2013 and 2014 open year of account forecasts

YOA	HUW syndicate capacity (£000)	Previous forecast of syndicate profit 31 December 2014			Current forecast of syndicate profit 31 March 2015
		Mid point (£000)	Mid point (%)	Range (%)	Mid point (£000)	Mid point (%)	Range (%)
2013	23,923	2,047	8.56	4.65 - 12.46	2,419	10.11	6.87 - 13.35
2014	25,568	NA	NA	NA	1,902	7.44	2.93- 11.94

Source: Syndicate data; Hampden Agencies Limited and HUW analysis

Explanatory notes:

The table above shows the gross aggregated estimated profits at syndicate level (before members' agent fees payable by HUW and its subsidiaries) for the syndicates in which the Company participates on a three year underwriting year of account (YOA) basis.  The figures are also before HUW's quota share and stop loss reinsurance arrangements.  The forecast YOA syndicate profit for HUW is obtained by applying the mid-point of the relevant estimated profit range to each of HUW's syndicate participations.  The information presented above is prepared on a three year YOA basis and should not be considered as indicative of the Group's annually accounted financial results prepared in accordance with International Financial Reporting Standards.  Further details, including quarterly progression for all years and syndicate results for closed years, will shortly be available on HUW's website at www.huwplc.com.

HUW syndicate participation

HUW's syndicate participations, on which YOA information is based, is presented below and is also available on the Company's website:

	2013		2014		2015
Syndicate	£'000	%*	£'000	%*	£'000	%*
33	1,860	7.8%	2,001	7.8%	2,001	8.7%
218	1,286	5.4%	1,286	5.0%	1,028	4.5%
308	70	0.3%	85	0.3%	-	-
386	701	2.9%	701	2.7%	598	2.6%
510	3,993	16.7%	3,943	15.4%	3,943	17.1%
557	529	2.2%	499	2.0%	499	2.2%
609	2,329	9.7%	2,335	9.1%	2,338	10.2%
623	2,561	10.7%	2,766	10.8%	2,578	11.2%
727	592	2.5%	592	2.3%	592	2.6%
779	20	0.1%	-	-	-	-
958	736	3.1%	585	2.3%	74	0.3%
1176	445	1.9%	447	1.7%	447	1.9%
1200	106	0.4%	106	0.4%	41	0.2%
1729	-	-	58	0.2%	19	0.1%
2010	745	3.1%	745	2.9%	652	2.8%
2014	-	-	137	0.5%	930	4.0%
2121	12	0.0%	-	-	-	-
2525	120	0.5%	120	0.5%	120	0.5%
2526	60	0.2%	-	-	-	-
2791	4,017	16.8%	3,537	13.8%	3,123	13.6%
4242	122	0.5%	122	0.5%	138	0.6%
5820	172	0.7%	118	0.5%	58	0.3%
6103	517	2.2%	475	1.9%	191	0.8%
6104	539	2.3%	946	3.7%	946	4.1%
6105	74	0.3%	386	1.5%	400	1.7%
6106	320	1.3%	-	-	-	-
6107	33	0.1%	373	1.5%	373	1.6%
6110	979	4.1%	925	3.6%	-	-
6111	958	4.0%	1,206	4.7%	1,218	5.3%
6113	30	0.1%	20	0.1%	-	-
6117	-	-	1,057	4.1%	698	3.0%
Total	23,923	100.0%	25,568	100.0%	23,007	100.0%

* Percentage of total syndicate portfolio

For further information please contact:

HUW	Nigel Hanbury	[e-mail]
Smith & Williamson Corporate Finance	David Jones	020 7131 4000
Westhouse Securities	Robert Finlay	020 7601 6100

About HUW

HUW 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).  HUW's subsidiary underwriting vehicles trade within the Lloyd's insurance market as corporate members of Lloyd's writing £23 million of capacity for the 2015 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

 

 

MSCUGUGPQUPAGQC