16th Aug 2019 13:17
(Alliance News) - Insurance company Helios Underwriting PLC said on Friday that it is outperforming the Lloyd's of London market average.
Its mid-point forecast stands at negative 7.4%, beating the Lloyd's market average of negative 9.6%.
As of Friday, 2019 account capacity of GBP55.7 million, this would represent slight falls on both 2018, where the company said capacity as of Friday stood at GBP59.0 million and 2017, where Helios reported a capacity of GBP56.1 million.
Chief Executive Nigel Hanbury said: "As the only quoted consolidator of private capital at Lloyd's, Helios offers a unique opportunity for growth and returns from exposure to the Lloyd's market through targeted acquisitions of capacity on the better quality syndicates.
"Looking ahead, the number of LLV's for sale is increasing and we see attractive near-term opportunities to continue to consolidate the market and achieve improved outperformance against Lloyd's."
Helios is a specialist insurer which buys and sells Lloyd's insurance syndicates.
Shares in the company were untraded in London on Friday afternoon, last quoted 5.4% down at 111.11 pence each.
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