TIDMHUW

RNS Number : 0257H

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 GBP3.2m, acquiring syndicate capacity of GBP2.3m expanding the access to the Freehold Syndicate capacity. The details are as follows:

 
                                            Humphrey 
 Name                      Consideration    Valuation   Discount 
                             GBP'000's     GBP'000's        % 
 Park Farm Underwriting 
  Limited                      3,229         3,445        6.3% 
 
 
 
                                                                     Profit 
                                            Capacity                  before 
 Name                      2023 Capacity      Value     Turnover       tax 
                             GBP'000's     GBP'000's    GBP'000's   GBP'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                    +44 (0)7720 292 505 
   Nigel Hanbury - Executive Deputy Chairman        +44 (0)7787 530 404 
   Arthur Manners - Chief Financial Officer               +44 (0)7754 965 917

Numis (Nomad and Broker)

   Giles Rolls / Charles Farquhar                                     +44 (0)20 7260 1000

Buchanan (PR)

   Helen Tarbet / George Beale                                       +44 (0)20 7466 5111

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 GBP310.8m 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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQRIMLTMTBTBTJ

(END) Dow Jones Newswires

July 25, 2023 02:00 ET (06:00 GMT)

Helios Underwriting (LSE:HUW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Helios Underwriting.
Helios Underwriting (LSE:HUW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Helios Underwriting.