Helios bags three more Lloyd's LLVs, three more in pipeline
Helios Underwriting has finalized its purchase of another three limited liability vehicles with £4.1 million in 2021 capacity for total £3.9 million consideration. In addition, another three unspecified acquisitions of similar vehicles have also been signed, but still await varied approvals.
"It is expected that these acquisitions will be completed shortly, and further announcements will be made in due course," Helios said in a market filing to the AIM alternative market.
The current list includes Nameco (No 1110) with £2.3 million in 2021 capacity, for which Helios is paying the bulk of the price tag at £3.09 million.
Also coming to the Helios group: £1.1 million in 2021 capacity from Exalt Underwriting and £640,000 from Kunduz, which were acquired for £550,000 and £220,000 respectively.
Helios Underwriting is making its business as a listed investment company acquiring and growing a portfolio made up of Lloyd’s – Limited Liability Vehicles of former Lloyd’s Names.
Ahead of the announcement, Helios claimed to have acquired 43 companies with a total underwriting capacity of £68 million.
Helios said December 20 that it would issue new shares for the acquisition of Exalt.
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