Net Asset Value as at 30 September 2023

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                                                    [phone]

Nigel Hanbury - Executive Deputy Chairman                   ​       [phone]

Arthur Manners - Chief Financial Officer                                               [phone]

Numis (Nomad and Broker)                                       

Giles Rolls / Charles Farquhar                                                     [phone]

Buchanan (PR)

Helen Tarbet / George Beale                                                      [phone]

                                                                                                         [phone]

 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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