12th Feb 2015 09:23
LONDON (Alliance News) - Helios Underwriting PLC on Thursday said it has acquired Lloyd's of London limited liability vehicle Nameco (No 402) Ltd for GBP0.8 million in cash.
The 2015 underwriting capacity of the vehicle is GBP0.8 million, adding to Helios' existing capacity of GBP21.4 million.
"We are delighted to have agreed a further LLV acquisition which will further increase our underwriting capacity. This is in line with our stated strategy of acquiring corporate members as suitable opportunities arise," said Helios Chief Executive Officer Nigel Hanbury.
Helios shares were untraded on Thursday, having last traded at 125.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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