Helios Underwriting is set to acquire Dumasco, a limited liability member of Lloyd’s (LLV), for £2.5 million, as it continues its strategy of increasing underwriting capacity through acquisition.
The 2014 underwriting capacity of the LLV is £1.5 million; this compares with HUW's 2014 capacity of £21.3 million prior to this acquisition.
Nigel Hanbury, Helios’ chief executive officer, said: "We are delighted to have agreed a further LLV acquisition which will further increase our underwriting capacity. This is in line with our stated strategy of acquiring corporate members as suitable opportunities arise. We continue to believe that there remain significant opportunities for further growth available to the company."