Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired three more limited liability vehicles (LLVs) for an aggregate cash consideration of roughly £2.6 million, generating syndicate capacity of £4.0 million.
Nameco (No.389) Limited, Nomina No 469 LLP and Nomina No 536 LLP were acquired for considerations of $1.8 million, $223,000 and $543,0000, respectively.
The 2021 capacity of each of the LLVs is recorded as $2.0 million, $494,000 and $1.5 million.
The company announced in August its intention to build a fund of capacity on the better quality syndicates at the historic insurance and reinsurance marketplace.
As a result, it decided to acquire existing limited liability vehicles (LLVs) by taking up the pre-emption capacity offered from its supported syndicates
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.
