Quarterly Syndicate Mid-Point Forecasts

RNS Number : 8183H
Helios Underwriting Plc
20 November 2018
 

 

 

Helios Underwriting plc

("Helios" or the "Company")

 

Quarterly Syndicate Mid-point Forecasts

 

Helios announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2016 and 2017 years of account based on 3rd  quarter 2018 results.

 

 

      Year of Account

 

 

2016

2017

2018

 

£m

£m

£m

Capacity  - Position as at 1st Jan 2018

37.8

37.0

41.0

Retained

17.9

11.6

12.3

Reinsured

19.9

25.4

28.7

 

 

 

 

Capacity acquired since 1st Jan 2018

 

 

 

Retained

5.4

4.9

2.9

Reinsured

-

-

1.4

 

 

 

 

Capacity - Position as at 15th November 2018

 

 

Retained

23.3

16.6

15.2

Reinsured

19.9

25.4

30.1

 

43.3

41.9

45.3

 

 

 

 

Mid-point forecast at 30th June 2018

5.35%

(7.40%)

 

Current mid-point forecast

5.51%

(8.39%)

 

 

 

 

 

Lloyd's Market Average

(4.50%)

(9.50%)

 

Helios' out performance

10.01%

1.11%

 

 

Notes

 

1)    The table shows the capacity as at 1st Jan 2018 separately showing the capacity acquired to date, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.

2)    The mid point forecasts for 2016 and 2017 years of account as of 3rd quarter 2018 have been aggregated at syndicate level from estimates supplied by Managing Agents.

3)    The deterioration of the 2017 mid-point forecast result has been impacted by the result of the capacity acquired during the year.  The current mid-point forecast for 2017 for the portfolio as at 1st January 2018 is (7.60%).

4)    The change in the mid point estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31st December 2018.

 

 

For further information, please contact:

Helios Underwriting plc

Nigel Hanbury - Chief Executive                                                    07787530 404 / nigel.hanbury@huwplc.com

Arthur Manners - Chief Financial Officer                                     07754 965 917

Stockdale Securities Limited

Robert Finlay                                                                                     020 7601 6100

David Coaten

 

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 £45m of capacity for the 2018 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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