Business
Acquisition
Acquisition.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n\n25 July 2023\n \nHelios Underwriting plc\n (\"Helios\" or the \"Company\")\nAcquisition of Limited Liability Vehicle (LLV)\n \nHelios, the investment vehicle which builds shareholder value through exposure to Lloyd's, is pleased to announce the completion of a further LLV acquisition. This vehicle has been acquired for a total cash consideration of £3.2m, acquiring syndicate capacity of £2.3m expanding the access to the Freehold Syndicate capacity. The details are as follows:\n\n\n\n\nName\n\n\nConsideration\n\n\nHumphrey Valuation\n\n\nDiscount\n\n\n\n\n\n\n\n\n\n\n£'000's\n\n\n£'000's\n\n\n%\n\n\n\n\n\n\n\nPark Farm Underwriting Limited\n\n\n3,229\n\n\n3,445\n\n\n6.3%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nName\n\n\n2023 Capacity\n\n\nCapacity Value\n\n\nTurnover\n\n\nProfit before tax\n\n\n\n\n\n\n\n£'000's\n\n\n£'000's\n\n\n£'000's\n\n\n£'000's\n\n\n\n\nPark Farm Underwriting Limited\n\n\n2,265\n\n\n977\n\n\n1,872\n\n\n519\n\n\n\n\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.\nFor further information, please contact:\nHelios Underwriting plc\nMartin Reith - Chief Executive Officer +44 (0)7720 292 505\nNigel Hanbury - Executive Deputy Chairman +44 (0)7787 530 404 \nArthur Manners - Chief Financial Officer +44 (0)7754 965 917\n \nNumis (Nomad and Broker) \nGiles Rolls / Charles Farquhar +44 (0)20 7260 1000\n \nBuchanan (PR)\nHelen Tarbet / George Beale &nb...