REG - Helios Underwriting - Net Asset Value as at 31 March 2024

Helios UnderwritingAnnouncement

31/07/2024 07:00

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RNS Number : 4772Y  Helios Underwriting Plc  31 July 2024

 

31 July
2024

Helios Underwriting plc

('Helios' or the 'Company')

 

Update on Net Asset Value as at 31(st) March 2024

 

Unaudited - NTA per share of 191p

 

Helios, the investment vehicle which builds shareholder value through exposure
to Lloyd's, announces that the unaudited Net Asset Value per share has
increased by 2p in the quarter to 31(st) March 2024 to £1.91.

 

Michel Wade, Executive Chairman, commented:

 

"The market conditions at Lloyd's remain strong, as reported across the market
during the last month.  Helios' pipeline profitability from the portfolio
looks promising and underpins our confidence in the future performance of the
business.

 

The recent repurchase of shares by the Company completed the Return of Capital
to shareholders and has enhanced Net Asset Value per share."

 

Growth in Net Asset Value

                                                  Net Asset Value £ per share       Net Assets £000's
 Net asset value per share as at 31/12/23         1.89                              140,120
 Profits for period to 31st March 2024 - Note 1   0.02                              1,435
 Share buy-backs                                                                    (807)
 Unaudited Net Asset per Share - 31st March 2024  1.91                              140,748
 Basic Shares in issue at 31st March 2024                          73,645

 

Note 1 - Profits to 31(st) March 2024 are management best estimate with the
unaudited information at the date of publication.

 

Following the recent repurchase of shares valued at £3.7m by the Company a
further enhancement of Net Asset Value per share is expected of approximately
2p per share.

 

For further information, please contact:

Helios Underwriting plc

Michael Wade - Executive
Chairman
 

Arthur Manners - Chief Financial
Officer

 

Deutsche Numis (Nomad and Broker)
 

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

 

FTI Consulting Ed Berry / Tom O'Brien
           +44 (0)7703 330 199 / +44 (0)7929 021 492

 

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 £512m of capacity for the 2024 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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