Business
Helios Capacity Fund
Helios Capacity Fund.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n \nRNS Number : 9765G Helios Underwriting Plc 12 November 2018 \n\nHelios Underwriting plc\n(\"Helios\" or the \"Company\")\nHelios Capacity Fund - Value of Capacity increases by 28%\n \nHelios is pleased to announce that, following the conclusion of Lloyds Capacity Auctions for 2018, the Weighted Average Prices of the syndicates comprising the Helios Capacity Fund traded in 2018 (\"Latest Average Prices\") has increased by 28% in comparison to last year.\n\n\n\n\n \n\n\nPer £ of capacity\n\n\nPer Share\n\n\n\n\n2017\n\n\n 0.32 \n\n\n 0.89 \n\n\n\n\n2018\n\n\n 0.40 \n\n\n 1.13 \n\n\n\n\nIncrease \n\n\n 0.09 \n\n\n 0.25 \n\n\n\n\n \n\n\n28%\n\n\n28%\n\n\n\n\n \nThis increase is calculated by applying the Latest Average Prices to the capacity portfolio of £41m as at 1st January 2018. \nThis rise in the value of capacity would increase the Company's Adjusted Net Asset Value as at 31 December 2017 by 24p to 184p (160p as at 31 December 2017).\nThe value of the syndicate capacity has recovered from the lows in 2017 following the significant catastrophe losses of the year. Premium rates have increased during 2018, with current expectations of further rate rises over the remainder of the year and in 2019, thereby improving the prospects for profitable underwriting.\nFor further information, please contact:\nHelios\nNigel Hanbury - Chief Executive &nbs...