t
Helios Underwriting plc announced on 25 June 2026 an update on its Net Asset Value (NAV) for the first quarter ending 31 March 2026. The NAV per share rose 0.49% to £2.65 as of 31 March 2026, from £2.63 at 31 December 2025, driven by a £5.7m increase in portfolio value, offset by £3.4m of expenses and a £1.4m tax provision. Additionally, the company reported a 2025 year of account mid-point forecast of 10.90% and an updated 2024 forecast of 9.80%, up from 9.25%.
| Date | 25 Jun 2026 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 6581J |
25 June 2026
Helios Underwriting plc
("Helios" or the "Company")
Net Asset Value Update
Pipeline profits drive 0.49% NAV per share increase
Helios Underwriting, the only publicly traded company offering access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, today announces an update on the Net Asset Value (NAV) of the Company for the first quarter ending 31 March 2026.
|
Net Asset Value at 31 March 2026 |
Total |
Net Assets |
|
|
£m |
per share - £ |
|
|
|
|
|
Opening at 31st December 2025 |
180.3m |
2.63 |
|
Increase in portfolio value from profit |
5.7m |
|
|
Expenses |
-3.4m |
|
|
Tax provision |
-1.4m |
|
|
Pro-forma Net Asset Value at 31st March 2026 |
181.2m |
2.65 |
|
Number of voting shares in issue* |
68.5m |
|
*based on total number of shares at 31st March 2026
NAV per share rose 0.49% in the first quarter to £2.65 (31 December 2025: £2.63), as a £5.7m increase in portfolio value from pipeline profits was partly offset by £3.4m of expenses and a £1.4m tax provision.
A dividend of 10 pence per share, approved by shareholders on 22 June 2026, is not reflected in the figures above.
Pipeline profit update and Quarterly Syndicate Mid-point Forecasts
The current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2024 and 2025 years of account based on the first quarter 2026 mid-point forecasts are:
|
|
2024 |
2025 |
2026 |
|
|
£m |
£m |
£m |
|
Total capacity as at 31st March 2026 |
522.9m |
495.9m |
467.4m |
|
Mid-point forecast at 31st December 2025 |
9.25% |
N/A |
|
|
Current mid-point forecast at 31st March 2026 |
9.80% |
10.90% |
|
|
Changes in mid-point forecast |
0.55% |
|
|
Activity During the Period
The 2025 year of account mid-point forecast is 10.90% The Q1 forecast includes an early estimate of losses from the conflict in the Middle East and has not experienced any above average catastrophe losses.
The 2024 year of account mid-point forecast has increased from 9.25% to 9.80%. The improvement in forecast over the last few quarters are mainly driven by more certainty around the catastrophe losses experienced previously. The year is tracking towards a strong ultimate result.
ENDS
For further information, please contact:
Helios Underwriting plc
Louis Tucker - Chief Executive Officer +44 (0)20 3965 6441
Adhiraj Maitra - Director of Finance and Operations +44 (0)20 3743 2114
Peel Hunt (Nomad, Broker and Financial Adviser)
Dan Webster / Andrew Buchanan / Martin Frowde +44 (0) 20 7418 8900
Singer Capital Markets (Joint Broker)
Charles Leigh-Pemberton / Russell Cook / James Todd +44 (0)20 7496 3000
FTI Consulting
Ed Berry +44 (0)7703 330 199
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.