8th October 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of further Limited Liability Vehicles (LLVs)
Further to its announcement of 4 October, Helios, the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce the completion of a further three LLV acquisitions. These LLVs have been acquired for an aggregate cash consideration of £2.6m, acquiring syndicate capacity of £4.0m. The details are as follows:
| Name | Consideration | Humphrey Valuation | Discount |
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| £'000's | £'000's | % |
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| Nameco (No.389) Limited | 1,830 | 2,004 | 8.7% |
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| Nomina No 469 LLP | 223 | 233 | 4.3% |
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| Nomina No 536 LLP | 543 | 604 | 10.1% |
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| 2,596 | 2,841 | 8.6% |
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| Name | 2021 Capacity | Capacity Value | Turnover | Profits before tax |
|
| £'000's | £'000's | £'000's | £'000's |
| Nameco (No.389) Limited | 2,006 | 830 | 1,885 | (79) |
| Nomina No 469 LLP | 494 | 246 | 659 | 49 |
| Nomina No 536 LLP | 1,512 | 651 | 1,516 | (25) |
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| 4,012 | 1,727 |
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Terms have been agreed with a further 13 LLV's where completion is subject, inter alia, to regulatory approval. It is expected that these acquisitions will be completed shortly, and further announcements will be made in due course.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive +44 (0)7787 530 404 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Shore Capital (Nomad and Broker)
Robert Finlay +44 (0)20 7601 6100
David Coaten
Willis Re Securities (Financial Adviser)
Alastair Rodger +44 (0)20 3124 6033
Buchanan (PR)
Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453
+44 (0)20 7466 5111
About Helios
Helios provides a limited liability direct investment into the Lloyd's insurance market and is quoted on the London Stock Exchange's AIM market (ticker: HUW). Helios trades within the Lloyd's insurance market writing approximately £110m of capacity for the 2021 account. The portfolio provides a good spread of business being concentrated in property insurance and reinsurance. For further information please visit www.huwplc.com.
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