31 July 2024                                                       

Helios Underwriting plc

('Helios' or the 'Company')

Update on Net Asset Value as at 31^st March 2024

Unaudited - NTA per share of 191p

Helios, the investment vehicle which builds shareholder value through exposure to Lloyd's, announces that the unaudited Net Asset Value per share has increased by 2p in the quarter to 31^st March 2024 to £1.91.

Michel Wade, Executive Chairman, commented:

"The market conditions at Lloyd's remain strong, as reported across the market during the last month.  Helios' pipeline profitability from the portfolio looks promising and underpins our confidence in the future performance of the business.

The recent repurchase of shares by the Company completed the Return of Capital to shareholders and has enhanced Net Asset Value per share."

Growth in Net Asset Value

Note 1 - Profits to 31^st March 2024 are management best estimate with the unaudited information at the date of publication.

Following the recent repurchase of shares valued at £3.7m by the Company a further enhancement of Net Asset Value per share is expected of approximately 2p per share.

For further information, please contact:

Helios Underwriting plc

Michael Wade - Executive Chairman                                                                     

Arthur Manners - Chief Financial Officer                                              

Deutsche Numis (Nomad and Broker)                                   

Giles Rolls / Charles Farquhar                                                     +44 (0)20 7260 1000

FTI Consulting Ed Berry / Tom O'Brien                                      +44 (0)7703 330 199 / +44 (0)7929 021 492 

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 £512m of capacity for the 2024 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.