Business
Quarterly Syndicate Mid-Point Forecasts
Quarterly Syndicate Mid-Point Forecasts.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n\n30th August 2023 \n \nHelios Underwriting plc\n('Helios' or 'the Company')\n \nQuarterly Syndicate Mid-Point Forecasts\n \nIndicative underwriting profits of 22p per share to be recognised over the next two years\nPotential NTA per share of 174p\n \nHelios, the investment vehicle which builds shareholder value through exposure to Lloyd's, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2021 and 2022 years of account based on 2nd quarter 2023 mid-point estimates.\n \nMartin Reith, Chief Executive, commented:\n \n\"Helios' proposition as the investment vehicle which builds shareholder value through exposure to Lloyd's continues to go from strength to strength. We have built and curated an outstanding portfolio of the better performing syndicates, based on stringent underwriting discipline and judicious capital deployment. During the period, we have acquired four further LLVs, and taken £6m capacity on a new syndicate.\n \n\"Market conditions at Lloyd's are strong, as reflected in our second published mid-point profit forecast for 2022 of 5.7% of capacity. This, compounded by Helios' increased retained capacity, £184m for the 2022 year of account, leads us to be confident in our expectation of achieving underwriting profits of 22p per share over the next two years.\"\n \n\n\n\n\n\n\n\n2021\n\n\n2022\n\n\n2023\n\n\n\n\n \n\n\n£m\n\n\n£m\n\n\n£m\n\n\n\n\nTotal capacity as at 30th May 2023\n\n\n \n\n\n\n\n\n\n\n\n\n\nRetained\n\n\n99.3\n\n\n177.6\n\n\n238.4\n\n\n\n\nReinsured\n\n\n51.5\n\n\n60.8\n\n\n58.3\n\n\n\n\n \n\n\n150.8\n\n\n238.4\n\n\n296.7\n\n\n\n\nChanges since 30th May\n\n\n \n\n\n\n\n\n\n\n\n\n\nAcquisition of LLV's\n\n\n6.4\n\n\n6.8\n\n\n8.1\n\n\n\n\nNew Syndicate Participation\n\n\n-\n\n\n-\n\n\n6.0\n\n\n\n\nIncrease in capacity reinsured\n\n\n-\n\n\n-\n\n\n(8.0)\n\n\n\n\nTotal change in retained\n\n\n6.4\n\n\n6.8\n\n\n6.1\n\n\n\n\n\n\n\n\n\n\...