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Helios secures further capital raise with latest LLV purchases

27th September 2021 - Author: Charlie Wood

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired three limited liability vehicles (LLVs) for an aggregate cash consideration of roughly £1.95 million, generating syndicate capacity of £2.39 million.

helios-underwriting-logoThe acquired LLVs, named Nameco (No 2011 & No 2012 and G.T.C. Underwriting, follows Helios’ purchase of North Breache Underwriting, a limited liability member of Lloyd’s, for a total consideration of £3.9 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

Helios at the time noted how its acquisition plans were in line with its strategy to increase underwriting capacity, but also enabled CEO Nigel Hanbury and CFO Arthur Manners to continue to invest in the firm, within the context of the fundraising.

RMS

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