REG - Helios Underwriting - Net Asset Value as at 30 September 2023

Helios UnderwritingAnnouncement

11/12/2023 07:15

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RNS Number : 2329W  Helios Underwriting Plc  11 December 2023

11 December
2023

 

Helios Underwriting plc

('Helios' or 'the Company')

 

Update on Net Asset Value as at 30(th) September 2023

 

Pro-forma - NTA per share of 176p

 

Helios, the investment vehicle which builds shareholder value through exposure
to Lloyd's, announces the pro-forma Net Asset Value per share as at 30(th)
September 2023 has increased by 25p - an increase of 17% to £1.76.

 

Martin Reith, Chief Executive, commented:

"Helios' proposition as the investment vehicle with a curated Lloyd's
portfolio continues to go from strength to strength. The net combined ratio of
the portfolio for the nine months was 88% contributing to the growth in net
asset value.

 

"Market conditions at Lloyd's remain strong, as reflected in the results of
the recent capacity auctions where the pre-emptions on the freehold syndicates
and the increase in auction prices have contributed a further 18p to the net
asset value."

 

Growth in Net Asset Value

                                                              Net Asset Value £ per share       Net Assets £000's
 Revised  Net asset value per share as at 31/12/22 - Note 1   1.51                              115,711
 Profits/(loss)  for period to 30th September 2023            0.10                              6,419
 Capacity Revaluation - Note 2                                0.18                              13,903
 Dividend Paid                                                (0.03)                            (2,293)
 Pro-forma Net Asset per Share - 30th Sept                    1.76                              133,740
 Shares in issue at 30th September 2023                                        75,646

 

Note 1 - the Net Asset Value as at 31 Dec 2022 has been restated to reflect
the adjustment to the Net Assets having adopted UK GAAP from 1(st) Jan 2023.

Note 2 - the Lloyd's capacity Auctions for 2023 were completed in November
2023 and the resulting increase in value was announced on 8(th) November
2023.  The increase in the net asset value has been included in the pro-forma
net asset value per share as at 30(th) September 2023

 

 

For further information, please contact:

Helios Underwriting plc

 

Helios Underwriting plc

Martin Reith - Chief
Executive
+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)7872 604 453

 
 
  +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 £311m 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.

 

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