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Helios secures syndicate capacity of £3.6m through latest acquisitions

11th January 2022 - Author: Luke Gallin

Helios, an investment vehicle that acquires and consolidates underwriting capacity at the Lloyd’s re/insurance marketplace, has acquired a further three LLVs for a consideration of £2.4 million.

helios-underwriting-logoThese acquisitions follow Helios’ acquisition of three LLVs back in December, and see the firm acquire syndicate capacity of £3.6 million.

Additionally, Helios says that terms have been agreed with one more LLV where completion is subject, inter alia, to regulatory approval.

The latest LLVs to be acquired by Helios include Clifton 2011 Limited; Nomina No 348 LLP; and Gould Scottish Limited Partnership.

For Clifton 2011 Limited, Helios paid a consideration of £1.025 million, which represents a discount of 0.5% on the Humphrey valuation. The LLV’s 2021 capacity totalled £1.558 million, with a value of £551,000 and turnover of £1.527 million.

Nomina No 348 LLP was acquired for £910,000, which represents a discount of 6% on the Humphrey valuation. The LLV had 2021 capacity of £1.308 million, capacity value of £574,000 and turnover of £1.321 million.

Helios acquired LLV Gould Scottish Limited Partnership for £435,000, representing a discount of 5% on the Humphrey valuation. For 2021, the LLV had capacity of £766,000, capacity value of £358,000, as the firm fell to a slight net underwriting loss for the year.

For the year of 2022 account, Helios confirmed recently that the retained underwriting capacity will be £171 million, which is a 191% increase in the capacity underwritten at the start of this year.

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