Syndicate Forecasts

RNS Number : 1470I

Helios Underwriting Plc

25 August 2016

 

25^th August 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 2^nd quarter 2016 results.

				Year of Account
				2014	2015	2016
				£m	£m	£m
Capacity - Position as at 24th August 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 31st March 2016				9.22%	6.98%
Current Mid Point Forecast				11.31%	7.22%	N/A
Lloyds Market Average				8.15%	3.75%%
Helios Outperformance				3.16%	3.47%

Notes

1)    There has been no change in the capacity of the Company since the previous announcement of quarterly results on 7^th June 2016.

2)    The mid point forecasts as of 2^nd 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 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                                      020 7863 6655 / [e-mail]

Arthur Manners - Chief Financial Officer                       07754 965917

Stockdale Securities                                                          020 7601 6100

Robert Finlay

Rose Ramsden

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 £32 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 http://www.huwplc.com/ 

 

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