Syndicate Forecasts

RNS Number : 0630Q
Helios Underwriting Plc
27 August 2014
 



27 August 2014

 

Helios Underwriting plc

("HUW" or the "Company")

 

Syndicate Forecasts

 

Set out below are aggregated 2013 and 2012 open underwriting year of account (YOA) forecasts of syndicate profits for HUW's portfolio of syndicate participations:

 

2012 and 2013 open year of account forecasts

YOA

HUW syndicate capacity (£000)

Previous forecast of syndicate profit

31 March 2014

Current forecast of syndicate profit

30 June 2014



Mid point (£000)

Mid point (%)

Range

(%)

Mid point (£000)

Mid point (%)

Range

(%)

2012

19,637

1,717

8.75

5.57  -  11.92

1,857

9.46

6.42  -  12.5

 

2013

19,700

1,322

6.73

 2.3  -  11.17

1,462

7.45

3.53  -  11.37

 

Source: Syndicate data; Hampden Agencies Limited and HUW analysis

 

Explanatory notes:

 

The tables above show the gross aggregated estimated profits at syndicate level (before members' agent fees payable by HUW and its subsidiaries) for the open years of the syndicates in which the Company participates on a three year underwriting year of account (YOA) basis. The figures are also before HUW's quota share and stop loss reinsurance arrangements.

 

The forecast YOA syndicate profit for HUW is obtained by applying the mid-point of the relevant estimated profit range to each of HUW's syndicate participations.

 

The information presented above is actual and forecast YOA information only prepared on a three year basis and should not be considered as indicative of the Group's annually accounted expected financial results to be prepared in accordance with International Financial Reporting Standards.

 

Further details, including quarterly progression for all years and syndicate results for closed years, will shortly be available on HUW's website at www.huwplc.com.

 

HUW syndicate participation

 

HUW's syndicate participation in open years, on which YOA information is based, is presented below and is also available on the Company's website:

 


2012

2013

2014

Syndicate

£'000

%*

£'000

%*

£'000

%*

33

1,603

8.2%

1,604

8.1%

1,730

8.1%

218

845

4.3%

918

4.7%

918

4.3%

308

73

0.4%

70

0.4%

85

0.4%

386

598

3.0%

598

3.0%

597

2.8%

510

2,955

15.0%

2,937

14.9%

2,887

13.6%

557

982

5.0%

511

2.6%

481

2.3%

609

2,233

11.4%

2,189

11.1%

2,194

10.3%

623

2,050

10.4%

2,243

11.4%

2,423

11.4%

727

482

2.5%

484

2.5%

484

2.3%

779

20

0.1%

20

0.1%

 -

-

958

828

4.2%

647

3.3%

515

2.4%

1176

313

1.6%

360

1.8%

362

1.7%

1200

242

1.2%

65

0.3%

65

0.3%

1729

 -

-

 -

-

38

0.2%

2010

596

3.0%

598

3.0%

598

2.8%

2121

157

0.8%

12

0.1%

 -

-

2525

132

0.7%

115

0.6%

115

0.5%

2526

53

0.3%

57

0.3%

 -

-

2791

3,029

15.4%

3,082

15.6%

2,714

12.8%

4242

96

0.5%

96

0.5%

96

0.5%

5820

-

-

108

0.5%

60

0.3%

6103

333

1.7%

405

2.1%

392

1.8%

6104

345

1.8%

416

2.1%

813

3.8%

6105

117

0.6%

65

0.3%

319

1.5%

6106

308

1.6%

271

1.4%

 -

-

6107

135

0.7%

10

0.1%

350

1.6%

6110

393

2.0%

880

4.5%

925

4.3%

6111

718

3.7%

910

4.6%

1,134

5.3%

6113

 -

-

30

0.2%

20

0.1%

6117

-

-

-

-

970

4.6%


 

 

 

 

 


Total

19,637

100.0%

19,700

100.0%

21,285

100.0%

* Percentage of total syndicate portfolio

 

For further information please contact:

 

HUW

 

Nigel Hanbury

nigel.hanbury@huwplc.com

Smith & Williamson Corporate Finance

David Jones

 

020 7131 4000

Westhouse Securities

Robert Finlay

Darren Vickers

 

020 7601 6100

 

 

 

 

About Helios Underwriting

HUW 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). HUW's subsidiary underwriting vehicles trade within the Lloyd's insurance market as corporate members of Lloyd's writing £21.3 million of capacity for the 2014 account. The portfolio provides a good spread of classes of business being concentrated in property insurance, reinsurance and motor business. For further information please visit www.huwplc.com.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCPGUQWRUPCGBQ
UK 100

Latest directors dealings