Helios, the unique investment vehicle which acquires and consolidates private underwriting capacity at Lloyd’s, has announced improved mid-point forecasts for its Lloyd’s syndicates.
The current mid-point forecasts are for Helios’ portfolio of syndicate capacity for the 2018 and 2019 years of account based on fourth quarter 2020 estimates.
These latest forecasts show that the 2018 result showed a good improvement over the midpoint forecasts as at 30th September 2020 reflecting investment returns and confidence in the old year reserves of the supported syndicates.
Helios also noted that outperformance of 5.6% of the portfolio against the average for the Lloyd’s market for 2018 continues the trend it has achieved over the last 6 years which averages over 5.7% over the period.
However, a smaller than expected improvement in 2019 midpoint forecast in the quarter reflects the continuing strengthening of the reserves for Covid 19 losses by syndicates.
“As the only listed 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 acquisition of the capacity of the better quality syndicates,” said Nigel Hanbury, Chief Executive at Helios.
Our strategy is bringing results, with returns on average 5.7% better than the Lloyd’s market itself over recent years,” he continued.
“Following our recent successful fundraising, we are pursuing opportunities to further build our core portfolio of capacity, to increase the capacity retained by Helios and continue to achieve outperformance against the Lloyd’s market as whole.”