Syndicate Forecasts

RNS Number : 8093S
Helios Underwriting Plc
22 March 2016
 

22 March 2016

 

Helios Underwriting plc

("HUW" or the "Company")

 

Syndicate Forecasts

 

Set out below are the aggregated 2013 underwriting year of account (YOA) result and updated 2014 YOA forecast of syndicate profits for HUW's portfolio of syndicate participations:

 

2013 closed year of account result and 2014 open year of account forecast

YOA

HUW syndicate capacity

(£000)

Previous forecast of syndicate profit

30 September 2015

Current forecast of syndicate profit

31 December 2015

Mid point (£000)

Mid point (%)

Range

(%)

Mid point (£000)

Mid point (%)

Range

(%)

2013

28,691

3,048

10.62

7.76 - 13.49

4,046

14.10

NA

2014

31,040

2,339

7.54

3.65 - 11.43

2,713

8.74

4.96 - 12.51

Source: Syndicate data; Hampden Agencies Limited and HUW analysis

 

Explanatory notes:

The table above shows the gross aggregated estimated profits at syndicate level (before members' agent fees payable by HUW and its subsidiaries) for 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 prepared on a three year YOA basis and should not be considered as indicative of the Group's annually accounted financial results 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 participations, on which YOA information is based, is presented below and is also available on the Company's website:

 


2013

2014

2015

2016

Syndicate

£'000

%*

£'000

%*

£'000

%*

£'000

%*

33

2,326

8.1

2,491

8.0

2,437

8.7

2,437

8.3

218

1,460

5.1

1,523

4.9

1,194

4.3

1,228

4.2

308

203

0.7

245

0.8

185

0.7

100

0.3

386

813

2.8

840

2.7

717

2.6

717

2.4

510

4,708

16.4

4,659

15.0

4,654

16.6

4,654

15.9

557

596

2.1

556

1.8

541

1.9

540

1.8

609

2,803

9.8

2,808

9.0

2,726

9.7

2,726

9.3

623

3,132

10.9

3,383

10.9

3,123

11.1

3,498

11.9

727

810

2.8

811

2.6

836

3.0

836

2.8

779

20

0.1

-

-

-

-

-

-

958

897

3.1

714

2.3

210

0.7

-

-

1176

474

1.7

476

1.5

476

1.7

526

1.8

1200

160

0.6

160

0.5

95

0.3

-

-

1729

-

-

107

0.3

69

0.2

-

-

1884

-

-

-

-

25

0.1

-

-

1991

-

-

90

0.3

60

0.2

-

-

2010

919

3.2

919

3.0

804

2.9

804

2.7

2014

-

-

327

1.1

1,185

4.2

1,250

4.3

2121

120

0.4

160

0.5

260

0.9

-

-

2525

141

0.5

141

0.5

141

0.5

167

0.6

2526

60

0.2

-

-

-

-

-

-

2791

4,605

16.1

4,055

13.1

3,552

12.6

3,552

12.1

4242

177

0.6

177

0.6

200

0.7

-

-

5820

224

0.8

220

0.7

160

0.6

-

-

6103

550

1.9

521

1.7

210

0.7

235

0.8

6104

661

2.3

1,138

3.7

1,088

3.9

1,095

3.7

6105

115

0.4

524

1.7

540

1.9

-

-

6106

362

1.3

-

-

-

-

-

-

6107

33

0.1

373

1.2

373

1.3

373

1.3

6110

1,073

3.7

925

3.0

-

-

-

-

6111

1,182

4.1

1,459

4.7

1,455

5.2

1,614

5.5

6113

67

0.2

67

0.2

-

-

-

-

6117

-

-

1,171

3.8

773

2.8

2,713

9.2

7217

-

-

-

-

-

-

211

0.7

7227

-

-

-

-

3

0.0

64

0.2










Total

28,691

100.0

31,040

100.0

28,091

100.0

29,340

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

Stockdale Securities

Robert Finlay

 

020 7601 6100

About HUW

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 £29 million of capacity for the 2016 account.  The portfolio provides a good spread of classes of business being concentrated in property insurance and reinsurance.  For further information please visit www.huwplc.com.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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