18th Nov 2019 11:25
(Alliance News) - Lloyd's market insurance firm Helios Underwriting PLC said Monday it is outperforming the Lloyd's of London market average.
Helios is a specialist insurer which buys and sells Lloyd's insurance syndicates.
As of last Friday, 2018 account capacity was GBP59.0 million, with GBP56.1 million for 2017. For 2019, capacity is GBP55.7 million.
The company's mid-point forecast for syndicate capacity for the 2018 year of account stands at negative 3.4%, beating the Lloyd's market average of negative 5.4%.
For 2017, the mid-point forecast stands at negative 6.5%, again ahead of the Lloyd's market average, which is negative 9.0%.
"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," Chief Executive Nigel Hansbury explained.
He continued: "We are delighted with the improvement in the results for both underwriting years and in the increased outperformance of the portfolio against the Lloyds' market."
Shares in Helios Underwriting were untraded in London on Monday but last closed at 129.60 pence each.
By Paul McGowan; [email protected]
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