HELIOS UNDERWRITING PLC Helios Underwriting plc
('Helios' or the 'Company')
2019 Capacity Update
Helios is pleased to announce that its opening capacity for the 2019 underwriting year of account is £52.6m (£41m - at 1st January 2018), a 28% increase in opening capacity year on year. A summary of the movements in capacity during 2018 and the opening capacity for the 2019 underwriting year is set out below.
Year of Account | ||||
2016 | 2017 | 2018 | 2019 | |
£m | £m | £m | £m | |
Capacity - Position as at 1st January 2018 | 37.8 | 37.0 | 41.0 | |
Retained | 17.9 | 11.6 | 12.3 | |
Reinsured | 19.9 | 25.4 | 28.7 | |
Capacity acquired during 2018 | ||||
Retained | 16.1 | 16.1 | 6.0 | |
Reinsured | - | 8.7 | ||
Capacity - Position as at 1st January 2019 | ||||
Retained | 34.0 | 27.7 | 18.3 | 15.8 |
Reinsured | 19.9 | 25.4 | 37.4 | 36.8 |
53.9 | 53.1 | 55.7 | 52.6 | |
Notes
1) The table shows the movement in capacity in the year from 1st January 2018 separately showing the capacity acquired during 2018, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.
2) During 2018 Helios acquired six LLV's adding £14.7m of capacity to the capacity portfolio for the underwriting year.
Further to the Company's announcement of 11 December 2018, the short-term loan of £8.1m arranged by Helios to assist in the financing of the acquisition of the LLV with member number 54532L has been repaid in full as expected.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 07787530 404 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965 917
Stockdale Securities Limited
Robert Finlay 020 7601 6100
David Coaten
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 £53m of capacity for the 2019 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.
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Disclaimer
Helios Underwriting plc published this content on 10 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 January 2019 15:03:03 UTC
