Business
Acquisition of corporate memb
Acquisition of corporate memb.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n RNS Number : 6121Q Hampden Underwriting Plc 05 August 2010 \n \n\n5 August 2010\n \nHampden Underwriting PLC\n(\"Hampden Underwriting\" or the \"Company\")\n \nAcquisition of corporate member\n \nHampden Underwriting, which provides investors with a limited liability direct investment into the Lloyd's insurance market, announces that it has acquired a further corporate member of Lloyd's for a consideration of £0.4 million in cash. The 2010 underwriting capacity of the corporate member (Nameco (No. 321) Limited) is £0.9 million; this compares with Hampden Underwriting's 2010 capacity of £8.8 million. Nameco (No. 321) Limited participates in a spread of Lloyd's syndicates similar to Hampden Underwriting's own participation.\n \nIn the year ended 31 December 2009, Nameco (No. 321) Limited made a profit before tax of £0.1 million on gross premiums written of £1.0 million and had net assets of £0.3 million at that date. Hampden Underwriting will contribute a further £0.1 million in cash to its funds at Lloyd's to support the Company's enlarged underwriting activities.\n \n \nCommenting upon this acquisition Jeremy Evans, a director of Hampden Underwriting, said:\n \n\"We are pleased to have made this acquisition of another corporate member which further increases our underwriting capacity and is in line with our stated strategy of acquiring corporate members as suitable opportunities arise.\"\n \n \n \nFor further information please contact:\n\n\n\n\nHampden Underwriting\n \n\n\nJeremy Evans\n\n\n020 7863 6567\n\n\n\n\nSmith & Williamson Corporate Finance Limited\n\n\nDavid Jones\nBarrie Newton\nCharles Combe\n \n\n\n020 7131 4000\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQUVVARRKAWRAR \n ","length":3814,"tagName":"div"}]