Acquisition of Further Limited Liability Vehicles

RNS Number : 8158N
Helios Underwriting Plc
04 October 2021
 

4th October 2021

 

Helios Underwriting plc

 ("Helios" or the "Company")

Acquisition of Further Limited Liability Vehicles ( LLVs )

 

Helios, the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce the completion of four of the twenty LLV acquisitions referred to in its announcement of interim results on 30 September 2021 as having terms agreed.   These LLVs have been acquired for an aggregate cash consideration of £ 2.5m , acquiring syndicate capacity of £ 2.6m .  The details are as follows: 

Name

Consideration

Humphrey Valuation

Discount

 

 

£'000's

£'000's

%

 

Kemah Lime Street Capital Limited

480

499

3.8%

 

Nameco (No 1130) Limited

715

742

3.6%

 

Nomina No. 070 LLP

645

686

6.0%

 

New Filcom Limited

651

695

6.3%

 

 

2,491

2,622

5.0%

 

 

 

 

 

 

 

 

 

 

 

Name

2021 Capacity

Capacity Value

Turnover

Profits before tax

 

£'000's

£'000's

£'000's

£'000's

Kemah Lime Street Capital Limited

502

184

615 1

(43) 1

Nameco (No 1130) Limited

653

234

874 1

35 1

Nomina No. 070 LLP

1,044

474

1,105 1

(34) 1

New Filcom Limited

364

190

1,272 2

149 2

 

2,563

1,082

 

 

 

1   Financial information per the latest available annual accounts; being for the year ended 31st December 2020

2 Financial information per the latest available annual accounts; being for the year ended 31st December 2019

 

It is expected that the remaining acquisitions will be completed shortly .

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

Nigel Hanbury - Chief Executive  +44 (0)7787 530 404 / nigel.hanbury@huwplc.com

Arthur Manners - Chief Financial Officer                                +44 (0)7754 965 917

 

Shore Capital (Nomad and Broker)

Robert Finlay                                                                               +44 (0)20 7601 6100

David Coaten

 

Willis Re Securities (Financial Adviser)

Alastair Rodger                                                                            +44 (0)20 3124 6033

 

Buchanan (PR)

Helen Tarbet / Henry Wilson / 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 £110m of capacity for the 2021 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com .

 

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