Business
Half Year Results
Helios Underwriting reported a 6p increase in net asset value to £2.39 per share for the six months ended June 30, 2025. The company expects further NAV increase in the second half of the year. Operating expenses relative to capacity decreased by 53.4% compared to Q2 2024. Helios received £21 million in net underwriting profits from the 2022 year of account and is returning £14.3 million to shareholders. A total cash dividend of 10 pence per share was paid, and a total expected return of capital of 20p per share is planned for 2025. Profit before tax was £4.4 million, driven by reduced expenses and foreign exchange impact. The company anticipates £40 million in net underwriting profits in 2026 from the 2023 year of account. Disclaimer*
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n\n\n\n\nHelios Underwriting Interim Results\nSix months ended 20 June 2025\n\nOur portfolio continues to benefit from outstanding Lloyd's market conditions\n\nHelios Underwriting ('Helios'), the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, is pleased to announce its interim financial results for the half year ended 30 June 2025.\n \nThe Lloyd's Market continues to report strong performance and the outlook for 2026 remains positive. Consequently, Helios has and will benefit from its outstanding pipeline profits generated from its broad Lloyd's syndicate portfolio for an extended period.\n \nKey highlights\n\n· 6p increase in net asset value (NAV) to £2.39 per share (2024 year-end, post 10 pence dividend payment: £2.33)\n· NAV is expected to increase further in H2 as a greater proportion of pipeline profits are recognised\n· Operating expense (over six months) relative to capacity has reduced by 53.4% Q2 2024\n· £21m of net underwriting profits from 2022 year of account was received in May 2025; £14.3m is being returned to the shareholders\n· A total cash dividend of 10 pence per share paid to shareholders (2024: 6p)\n· Dividend and total expected return of capital of 20p per share in 2025 (2024: 12p per share), which includes our forthcoming tender offer\n· Profit before tax of £4.4m (H2 2024: £1.2m restated) driven by reduced expenses and impact of foreign exchange (FX) change on debt revaluation\n· £40m of Net underwriting profits expected to be received in 2026 from the 2023 year of account. We expect 2024 year of account to produce another strong return\n· Continued focus on reducing operational gearing in 2025\n· Louis Tucker appointed as the Chief Executive Officer\n· Hosting our first Capital Markets Day on 21 October, 2025 for shareholders and existing / new investors\n \nInterim Executive Chairman, John Chambers, commented:\n \n\"The strong pricing environment in the insur...