Business
Net Asset Value(s)
Net Asset Value(s).
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n\n2 December 2025\n \nHelios Underwriting plc\n(\"Helios\" or the \"Company\")\nNet Asset Value Update\nPipeline profits drive 3.8% NAV per share increase\nHelios Underwriting, the only publicly traded company offering access to a diverse portfolio of syndicates at Lloyd's of London, the world's largest insurance market, today announces an update on the Net Asset Value (NAV) of the Company for the third quarter ending 30 September 2025.\n \n\n\n\n\nNet Asset Value at 30 September 2025\n\n\nTotal\n\n\nNet Assets\n\n\n\n\n \n\n\n£m\n\n\nper Share - £\n\n\n\n\n \n\n\n \n\n\n\n\n\n\n\nOpening at 30th June 2025\n\n\n170.4m\n\n\n 2.39\n\n\n\n\nIncrease in portfolio value from auction\n\n\n0.7m\n\n\n\n\n\n\n\nIncrease in portfolio value from profit\n\n\n5.7m\n\n\n\n\n\n\n\nPro-forma Net Asset Value at 30th September 2025\n\n\n176.8m\n\n\n 2.48\n\n\n\n\nNumber of voting shares in issue\n\n\n69.6m\n\n\n\n\n\n\n\n \nThe Q3 net asset value (NAV) per Share has increased by 3.8% to £2.48 (Q2 25: £2.39), driven by the increase in pipeline profits (8 pence) based on the Q3 mid-points reported by the syndicates and changes to the capacity valuations (1 pence).\n\nLouis Tucker, Chief Executive Officer, commented:\n\"The strong financial performance of Helios reflects our unique proposition and continued strategic delivery. With this, and the favourable underwriting conditions currently seen in the Lloyd's market, we have continued to unlock shareholder returns, including a total capital return of £14m in 2025 via a dividend and tender.\"\n\"The period has been characterised by an increasingly disciplined approach to the allocation of capital - prioritising established syndicates with profitable track records over new syndicates - while making headway in bringing our operational costs down to a more sustainable level.\n \"Our portfolio management team has worked to increase the quality of Helios' syndicate portfolio, which will show through in future years. Meanwhile, the Lloyd's three-year accounting structure provides the Compan...