Helios Underwriting has acquired Nameco (No 402), a limited liability member of Lloyd’s (LLV), as it continues its strategy of increasing underwriting capacity through acquisition.
Helios acquired Nameco for £800,000. The 2015 underwriting capacity of Nameco is £800,000; this compares with Helios’ 2015 capacity of £21.4 million prior to this acquisition.
Nigel Hanbury, the chief executive officer of Helios, 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."