REG - Helios Underwriting - Quarterly Syndicate Mid-point Forecasts

Helios UnderwritingAnnouncement

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RNS Number : 6258W  Helios Underwriting Plc  26 August 2025

26(th) August
2025

 

Helios Underwriting plc

('Helios' or 'the Company')

 

Quarterly Syndicate Mid-point Forecasts

 

 

Helios Underwriting, the only publicly traded company offering instant access
to a diverse portfolio of syndicates at Lloyd's of London, the world's largest
insurance market, announces the current mid-point forecasts in respect of its
portfolio of syndicate capacity for the 2023 and 2024 years of account based
on second quarter 2025 mid-point forecasts.

 

John Chambers, Interim Executive Chairman, commented:

 

"The continuing strong financial performance of Helios reflects the strength
of our unique proposition, our continued strategic delivery and favourable
underwriting conditions. As a result, we have been able to continue to unlock
shareholder returns, including a dividend payment of 10 pence per share in
2025."

 

"The period has been characterised by an increasingly disciplined approach to
the allocation of capital - prioritising established syndicates with
profitable track records over new syndicates - while making headway in
bringing our operational costs down to a more sustainable level.

 

"We believe that the best years of this insurance cycle remain ahead of us
from a returns perspective. Our portfolio management team has worked to
increase the quality of Helios' syndicate portfolio, which will show through
in future years. Meanwhile, the Lloyd's three-year accounting structure
provides the Company with good visibility for the next two years, where we
expect to see a similar level of capital returned to Shareholders."

 

                                                2023   2024   2025
                                                £m     £m     £m
 Total capacity as at 22(nd) August 2025
 Retained                                       251.7  403.5  322.6
 Reinsured                                      66.3   115.2  158.3
                                                318.0  518.7  490.9
 Mid-point forecast at 31st March 2025          15.2%  7.6%
 Current mid-point forecast (30(th) June 2025)  15.6%  8.0%

 Change in mid-point forecast                   0.4%   0.4%

 

 

Activity During the Period

 

The 2023 mid-point forecast continues to improve to 15.6% (15.2% as at Q1
2025) in line with expectations. Historic development patterns would indicate
that further improvement is likely in the final half year.

 

The 2024 calendar year experienced above average levels of catastrophe losses
and whilst the significant California wildfires occurred at the start of this
year the majority of claims fall back to the 2024 year of account. In spite of
this the mid-point forecast at 8.0% profit on capacity (7.6% as at Q1 2025),
has improved and the year is tracking towards a strong ultimate result. This
demonstrating the underlying strength of pricing adequacy.

 

 

 

 

Notes

1)    The table above shows the capacity as at 22nd August 2025, splitting
the capacity retained by Helios and the capacity that is ceded to quota share
reinsurers and third-party participants.

2)    The mid-point forecasts for 2023 and 2024 years of account as at
second quarter 2025 have been aggregated at syndicate level from estimates
supplied by Managing Agents.

3)    Helios mid-points forecasts have been adjusted for additional
expenses charged on syndicates 1902 & 1988, outside the results reported
by Lloyd's.

4)    Helios mid-points forecasts include estimated profit for seven
Syndicate in a Box (SIAB's) supported for the 2024 YOA. These estimates are
not included in the market results reported by Lloyd's.

 

For further information, please contact:

Helios Underwriting plc

John Chambers - Interim Executive
Chairman
 +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

Nathan
Hambrook-Skinner
+44 (0)7977 817 092

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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