Helios Underwriting : Underwriting Capacity

5 December 2016

Helios Underwriting plc

('Helios' or the 'Company')

2017 Underwriting Year Capacity

Helios is pleased to announce the capacity for 2017 underwriting year has been agreed at £32.6m including the capacity to be acquired with Salviscount LLP. We have continued our policy of focussing on the quality syndicates and capacity on weaker syndicates owned by LLV's acquired during the year was sold in the recent capacity auctions.

Helios Capacity as at 1 December 2016
Underwriting Year	2014	2015	2016	2017
	£m	£m	£m	£m
Retained	20.7	16.1	10.8	9.8
Reinsured	14.8	16.2	22.9	22.8
Total Capacity	35.5	32.2	33.7	32.6
% of Total Capacity Retained	58.2%	49.8%	32.1%	30%

Helios will continue to reinsure 70% of the portfolio at the outset of the underwriting year to reduce 'on-risk' exposures. The panel of reinsurers used will remain unchanged and on similar terms to previous years.

Following the capacity auctions that were held during November 2016, the average price of capacity of the Helios portfolio has increased by 9% to 45.7p per £ of capacity. This reflects the improvement in the quality of the portfolio of the underlying syndicates rather than reflecting any movement in average values achieved at the auction.

Following the issue of shares from the Placing and Open Offer in September 2016, the capacity value per share has reduced to 102p per share.

Underwriting Year	2017	2016
As at	Dec-16	Dec-15
Capacity at 1st Jan - £m	32.6	28.1
Capacity Value - £m	14.9	11.8
Average price per £ of capacity	45.7	41.9
Number of shares in issue (m)	14.6	10.5
Capacity value per share - pence	102.2	112.1

The quality of the portfolio has been improved with the top 9 syndicate participations comprising over 80% of the capacity portfolio. These syndicates are managed by the leading managing agents at Lloyd's and represent shares in the better managed businesses in Lloyd's.

For further information please contact:

Helios Nigel Hanbury - Chief Executive Arthur Manners	020 7863 6655 /[e-mail] 07754 965 917
Stockdale Robert Finlay	020 7601 6100

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 £34 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 visitwww.huwplc.com.

Additional Information

Set out below are details of Helios' syndicate participations for the 2017 underwriting year:

Helios Underwriting - Analysis of Portfolio - 2017
Syndicate	Managing Agent	Helios 2017 Capacity (£'000s)	% of Helios 2017 portfolio	Capacity Value of 2017 Portfolio - (£'000s)	% of the value of the portfolio
510	Tokio Marine Kiln Syndicates Ltd	5,522	16.9%	1,524	10.2%
623	Beazley Furlonge Ltd	4,781	14.7%	3,907	26.2%
2791	Managing Agency Partners Ltd	3,906	12.0%	1,893	12.7%
33	Hiscox Syndicates Ltd	3,299	10.1%	2,487	16.7%
609	Atrium Underwriters Ltd	3,186	9.8%	2,095	14.0%
6117	Ariel Re / Asta Managing Agency	2,495	7.6%	-	-
218	ERS Syndicate Management Ltd	1,791	5.5%	151	1.0%
727	S.A. Meacock	979	3.0%	826	5.5%
1176	Chaucer Syndicates - Nuclear	604	1.9%	1,474	9.9%
		26,563	81.4%	14,355	96.2%