Business
Quarterly Syndicate Mid Point Forecasts
Quarterly Syndicate Mid Point Forecasts.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n \n \n \n 4th April 2023 \n \n \n \n \n \n \n \n Helios Underwriting plc\n \n \n \n ('Helios' or 'the Company')\n \n \n \n \n \n \n Quarterly Syndicate Mid Point Forecasts\n \n \n \n \n \n \n Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd's, announces the current mid-point forecasts in respect of its portfolio of syndicate capacity for the 2020 and 2021 years of account based on 4th quarter 2022 estimates.\n \n \n \n \n \n \n Martin Reith, Chief Executive, commented\n \n :\n \n \n \n \n \n \"Helios' unique proposition, as the only listed consolidator of private capital at Lloyd's, is well positioned to benefit from the Lloyd's market's recently announced mid point forecasts. Helios has built and curated an outstanding portfolio of the better performing syndicates and, as a consequence of underwriting discipline and judicious capital deployment, we are delighted to see improved underwriting profitability in the Lloyd's market. We expect Helios' portfolio to continue to outperform the market as we have since 2013 for closed years of accounts.\n \n \n \n \n \n Recognising stronger market conditions, we increased our retained capacity to £238m for the 2023 year of account, an increase of 34%. We remain confident that we shall deliver improved results and superior return on equity underpinned by our favourable Economic Capital Assessment (ECA), and look forward to creating further shareholder value as the benefits of the larger retained capacity flows to the income statement.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Year of Account\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2020\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n £m\n \n \n \n \n \n \n £m\n \n \n \n \n \n \n £m\n \n \n \n \n \n \n £m\n \n \n \n \n \n \n \n \n \n \n \n Capacity - Position as at 30th September 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retained\n \n \n \n \n 66.5\n \n \n \n \n 93.5\n \n \n \n \n 171.9\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reinsured\n \n \n \n \n 49.1\n \n \n \n \n 51.5\n \n \n \n \n 60.8\n \n \n...