Acquisition

Helios Underwriting Plc

25 July 2023

 

25 July 2023

Helios Underwriting plc

 ("Helios" or the "Company")

Acquisition of Limited Liability Vehicle (LLV)

Helios, the investment vehicle which builds shareholder value through exposure to Lloyd's, is pleased to announce the completion of a further LLV acquisition. This vehicle has been acquired for a total cash consideration of £3.2m, acquiring syndicate capacity of £2.3m expanding the access to the Freehold Syndicate capacity. The details are as follows:

Name	Consideration	Humphrey Valuation	Discount
	£'000's	£'000's	%
Park Farm Underwriting Limited	3,229	3,445	6.3%
Name	2023 Capacity	Capacity Value	Turnover	Profit before tax
	£'000's	£'000's	£'000's	£'000's
Park Farm Underwriting Limited	2,265	977	1,872	519

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.

For further information, please contact:

Helios Underwriting plc

Martin Reith - Chief Executive Officer                    [phone]

Nigel Hanbury - Executive Deputy Chairman        [phone] 

Arthur Manners - Chief Financial Officer               [phone]

Numis (Nomad and Broker)                                       

Giles Rolls / Charles Farquhar                                     [phone]

Buchanan (PR)

Helen Tarbet / George Beale                                       [phone]

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 £310.8m 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.

 

END