Acquisition of Limited Liability Vehicles

RNS Number : 6710M
Helios Underwriting Plc
23 September 2021
 

23rd September 2021

 

Helios Underwriting plc

 ("Helios" or the "Company")

Acquisition of  Limited Liability Vehicles (LLVs)

 

Further to its announcement of 22 September 2021, Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, is pleased to announce that it has acquired a further three LLVs for an aggregate cash consideration of approximately £1.95 million acquiring syndicate capacity of £2.39 million.  The details are as follows: 

Name

Consideration

Humphrey Valuation

Discount

 

£'000's

£'000's

%

Nameco (No 1011) Limited

891

973

8.5%

G.T.C. Underwriting Limited

696

753

7.5%

Nameco (No 2012) Limited

360

389

7.5%

 

1,947

2,115

7.9%

 

Name

2021 Capacity

Capacity Value

Turnover

Profits before tax

 

£'000's

£'000's

£'000's

£'000's

Nameco (No 1011) Limited

949

492

974

150

G.T.C. Underwriting Limited

820

489

1,281

175

Nameco (No 2012) Limited

618

398

1,216

303

 

2,388

1,379

 

 

 

Further announcements will be made in due course as the Company's pipeline of LLV acquisitions complete.

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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