Helios Underwriting plc acquired North Breache Underwriting Limited for £3.9 million on September 22, 2021. The total consideration paid for North Breache was £3.9 million, of which £3.4 million was paid on completion in cash and £0.5 million has been satisfied by the issue of 304,878 new ordinary shares in Helios ("New Ordinary Shares") at 164 pence per share. The consideration represents a discount of approximately 7.5% to the independent valuation of £4.2 million placed on North Breache by Humphrey's. In the year ended 31 December 2020, North Breache made a profit before tax of £0.1 million on gross premiums written of £4.0 million. Shore Capita served as broker and Willis Re Securities served as financial advisor to Helios Underwriting plc. Helios Underwriting plc completed the acquisition of North Breache Underwriting Limited on September 22, 2021.