REG - Helios Underwriting - 2026 YOA Portfolio Update

Helios UnderwritingAnnouncement

20/01/2026 07:00

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RNS Number : 4990P  Helios Underwriting Plc  20 January 2026

20 January
2026

 

Helios Underwriting plc

('Helios' or 'the Company')

 

2026 YOA Portfolio Update

 

Helios announces expected 2026 managed capacity for its Lloyd's syndicate
portfolio of £467 million

 

Helios Underwriting, the only publicly traded company offering instant access
to a portfolio of syndicates at Lloyd's of London, the world's largest
insurance market, will be supporting a diversified portfolio of syndicates for
the 2026 Year of Account with an overall capacity of £467m (2025: £491m).

 

The revised capacity figure reflects further improvements to the quality and
resilience of the syndicate portfolio and includes trading at the 2025
auctions and Limited Liability Vehicles (LLV) acquisitions. Helios has
recently completed the purchase of two LLVs for a consideration of £4.85m in
cash compared with the Humphrey Valuation of £5.09m.  The capacity acquired
has been included in the Helios portfolio for 2026.

 

The 2026 portfolio remains well-diversified underpinned by disciplined
allocation across syndicates, geographies and classes of business. With 75% of
capacity allocated to established syndicates, the portfolio is structured to
deliver a sustainable pipeline of profits whilst effectively managing
volatility.

 

The proportion of freehold capacity for 2026 YOA has increased by 35% to
£218m (2025 YOA: £161m).

 

The NAV per share as at 30 September 2025 has increased 3.8% to £2.48 in Q3
driven by pipeline profits and results of the recent Lloyd's capacity
auctions. Profit expectations for the 2023, 2024 and 2025 Years of Account
remain strong.

 

The 10 syndicates, which represent 59% of the total portfolio for 2026, are:

 

Arch 1955

Atrium 609

Beazley 623

Beazley 5623

Blenheim 5886

Convex 1984

Fidelis 3123

Hiscox 33

IQUW 218

Nephila 2358

 

 

In line with the company's strategy to reduce gearing and costs the proportion
of the portfolio ceded through reinsurance and Members' Agency Pooling
Arrangements (MAPA) arrangements has increased for the 2026 Year of Account.

 

Louis Tucker, Chief Executive Officer, commented:

 

"Today's announcement of our 2026 portfolio capacity of £467m underscores
Helios' position as a leading portfolio manager within the Lloyd's market.
While market conditions are starting to soften following a period of
exceptionally strong pricing, rates remain attractive overall.

 

Through our data driven, quantitative and qualitative approach to portfolio
optimisation we continue to enhance portfolio quality and refine the class of
business mix to suit market conditions.

 

The portfolio continues to prioritise established syndicates with proven track
records to deliver sustainable, cross-cycle performance.

 

The Board remains focused on maximising long-term shareholder value and
continues to take steps to reduce gearing and costs. The Board is also
committed to reviewing Helios' dividend policy as profit distributions
develop."

 

 

For further information, please contact:

Helios Underwriting plc

 

Louis Tucker - Chief Executive
Officer
+44 (0)203 965 6441

Adhiraj Maitra - Director of Finance and
Operations                       +44 (0) 203 743 2114

 

Deutsche Numis (Nomad and Broker)

Giles Rolls / Charles Farquhar
                             +44 (0)20 7601 6100

 

FTI Consulting

Ed Berry
 
   +44 (0)7703 330 199

Christian Harte
                                             +44
(0)7974 288 763

 

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. The
portfolio provides a broad spread of business primarily participating in the
US and other international wholesale and reinsurance markets. For further
information please visit www.huwplc.com (http://www.huwplc.com/)

 

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