Helios acquires two LLVs

Helios Underwriting has acquired two limited liability members of Lloyd’s (LLVs) for £2.4 million.

As it seeks to increase its underwriting capacity, Helios will acquire Nameco (No 76) and Kempton Underwriting Limited.

The combined 2015 underwriting capacity of the LLVs is £2 million and the LLVs participate in a spread of Lloyd's syndicates broadly similar to Helios' own participation.

Nigel Hanbury, the company's chief executive officer, said: "We are delighted to have agreed further LLV acquisitions which will further increase our underwriting capacity and, in this instance, to have been able to use our shares as consideration.

“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."