Syndicate Forecasts

RNS Number : 8093S

Helios Underwriting Plc

22 March 2016

 

22 March 2016

Helios Underwriting plc

("HUW" or the "Company")

Syndicate Forecasts

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

2013 closed year of account result and 2014 open year of account forecast

YOA	HUW syndicate capacity (£000)	Previous forecast of syndicate profit 30 September 2015			Current forecast of syndicate profit 31 December 2015
		Mid point (£000)	Mid point (%)	Range (%)	Mid point (£000)	Mid point (%)	Range (%)
2013	28,691	3,048	10.62	7.76 - 13.49	4,046	14.10	NA
2014	31,040	2,339	7.54	3.65 - 11.43	2,713	8.74	4.96 - 12.51

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		2016
Syndicate	£'000	%*	£'000	%*	£'000	%*	£'000	%*
33	2,326	8.1	2,491	8.0	2,437	8.7	2,437	8.3
218	1,460	5.1	1,523	4.9	1,194	4.3	1,228	4.2
308	203	0.7	245	0.8	185	0.7	100	0.3
386	813	2.8	840	2.7	717	2.6	717	2.4
510	4,708	16.4	4,659	15.0	4,654	16.6	4,654	15.9
557	596	2.1	556	1.8	541	1.9	540	1.8
609	2,803	9.8	2,808	9.0	2,726	9.7	2,726	9.3
623	3,132	10.9	3,383	10.9	3,123	11.1	3,498	11.9
727	810	2.8	811	2.6	836	3.0	836	2.8
779	20	0.1	-	-	-	-	-	-
958	897	3.1	714	2.3	210	0.7	-	-
1176	474	1.7	476	1.5	476	1.7	526	1.8
1200	160	0.6	160	0.5	95	0.3	-	-
1729	-	-	107	0.3	69	0.2	-	-
1884	-	-	-	-	25	0.1	-	-
1991	-	-	90	0.3	60	0.2	-	-
2010	919	3.2	919	3.0	804	2.9	804	2.7
2014	-	-	327	1.1	1,185	4.2	1,250	4.3
2121	120	0.4	160	0.5	260	0.9	-	-
2525	141	0.5	141	0.5	141	0.5	167	0.6
2526	60	0.2	-	-	-	-	-	-
2791	4,605	16.1	4,055	13.1	3,552	12.6	3,552	12.1
4242	177	0.6	177	0.6	200	0.7	-	-
5820	224	0.8	220	0.7	160	0.6	-	-
6103	550	1.9	521	1.7	210	0.7	235	0.8
6104	661	2.3	1,138	3.7	1,088	3.9	1,095	3.7
6105	115	0.4	524	1.7	540	1.9	-	-
6106	362	1.3	-	-	-	-	-	-
6107	33	0.1	373	1.2	373	1.3	373	1.3
6110	1,073	3.7	925	3.0	-	-	-	-
6111	1,182	4.1	1,459	4.7	1,455	5.2	1,614	5.5
6113	67	0.2	67	0.2	-	-	-	-
6117	-	-	1,171	3.8	773	2.8	2,713	9.2
7217	-	-	-	-	-	-	211	0.7
7227	-	-	-	-	3	0.0	64	0.2
Total	28,691	100.0	31,040	100.0	28,091	100.0	29,340	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
Stockdale 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 £29 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.

 

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