Helios Underwriting plc
("Helios" or the "Company")
Quarterly Syndicate Mid-point Forecasts
Helios announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2016 and 2017 years of account based on 3rd quarter 2018 results.
|
Year of Account |
|
|
2016 |
2017 |
2018 |
|
£m |
£m |
£m |
Capacity - Position as at 1st Jan 2018 |
37.8 |
37.0 |
41.0 |
Retained |
17.9 |
11.6 |
12.3 |
Reinsured |
19.9 |
25.4 |
28.7 |
|
|
|
|
Capacity acquired since 1st Jan 2018 |
|
|
|
Retained |
5.4 |
4.9 |
2.9 |
Reinsured |
- |
- |
1.4 |
|
|
|
|
Capacity - Position as at 15th November 2018 |
|
|
Retained |
23.3 |
16.6 |
15.2 |
Reinsured |
19.9 |
25.4 |
30.1 |
|
43.3 |
41.9 |
45.3 |
|
|
|
|
Mid-point forecast at 30th June 2018 |
5.35% |
(7.40%) |
|
Current mid-point forecast |
5.51% |
(8.39%) |
|
|
|
|
|
Lloyd's Market Average |
(4.50%) |
(9.50%) |
|
Helios' out performance |
10.01% |
1.11% |
|
Notes
1) The table shows the capacity as at 1st Jan 2018 separately showing the capacity acquired to date, splitting the capacity retained by Helios and the capacity that is ceded to quota share reinsurers.
2) The mid point forecasts for 2016 and 2017 years of account as of 3rd quarter 2018 have been aggregated at syndicate level from estimates supplied by Managing Agents.
3) The deterioration of the 2017 mid-point forecast result has been impacted by the result of the capacity acquired during the year. The current mid-point forecast for 2017 for the portfolio as at 1st January 2018 is (7.60%).
4) The change in the mid point estimates on the retained capacity over the year will be recognised in the Helios income statement in the year to 31st December 2018.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive 07787530 404 / [email protected]
Arthur Manners - Chief Financial Officer 07754 965 917
Stockdale Securities Limited
Robert Finlay 020 7601 6100
David Coaten
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 £45m of capacity for the 2018 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.
