Helios Underwriting - Acquisition

Helios Underwriting

25/07/2023 07:00

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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
£3.2m, acquiring syndicate capacity of £2.3m expanding the access to the
Freehold Syndicate capacity. The details are as follows:

 Name                            Consideration  Humphrey Valuation  Discount
                                 £'000's        £'000's             %
 Park Farm Underwriting Limited  3,229          3,445               6.3%

 Name                            2023 Capacity  Capacity Value      Turnover  Profit before tax
                                 £'000's        £'000's             £'000's   £'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 £310.8m 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 (http://www.huwplc.com) .

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