29 May 2025

Helios Underwriting PLC

("Helios" or the Company)

Company announcement  

Helios, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, announces that Adhiraj Maitra will take on the new role of Director of Finance and Operations, after the AGM in June, following the retirement of Arthur Manners, Finance Director. The Board will consider the appointment of Adhiraj to the Board after the AGM.

Arthur Manners will leave the Company after the AGM in June, retiring after 10 years, in which he has been a careful custodian of Helios' financial health.

Adhiraj joined Helios as Chief Operating Officer (COO) from Canopius in March 2024, and has been involved in the Group's portfolio restructuring, materially reducing the Company's underwriting risk, gearing and overall cost base for 2025. Over his 18-year career, Adhiraj has built experience across a breadth of technical and leadership roles including five years with Lloyd's heading up the syndicate capital team, and four years with Willis Towers Watson leading the capital and risk initiatives in the London Market.

John Chambers, Interim Executive Chairman commented:

"Having been invaluable in helping guide Helios through a period of significant growth and successful delivery as COO, Adhiraj possesses a deep understanding of the business that makes him the natural choice of Director of Finance and Operations. Adhiraj exemplifies one of Helios' key differentiators: deep data driven market insights and knowledge of Lloyd's that we can leverage on behalf of clients. We look forward to continuing working with him in this new capacity as we continue to prioritise shareholder returns and active cycle management. On behalf of the Board, I would like to thank Arthur for his significant contribution to the success of the Company over 10 years and wish him well in his retirement."

Adhiraj Maitra, commented:

"I will continue to work with Arthur for a smooth transition and am delighted to accept the role as the Director of Finance and Operations, starting 1 July 2025, at this exciting point for Helios and the London Market. Helios offers a very attractive entry point for value investors seeking to access a profitable pipeline of Lloyd's results, and I look forward to continuing to work alongside John and the Board as we maximise Helios capital strength and agility to maximise these significant investment opportunities."

For further information, please contact:

Helios Underwriting plc

John Chambers - Interim Executive Chairman                                               

Arthur Manners - Chief Financial Officer           

44 (0)203 965 6441   

Deutsche Numis (Nomad and Broker)                                       

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

FTI Consulting

Ed Berry                                             +44 (0)7703 330 199

Nathan Hambrook-Skinner                        +44 (0)7977 817 092

Christian Harte                                 +44 (0)7974 288 763

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. The portfolio provides a broad spread of business primarily participating in the US and other international wholesale and reinsurance markets. For further information please visit www.huwplc.com