Helios makes £2.4m acquisition

Helios Underwriting has agreed to acquire two limited liability members of Lloyd’s for £2.4 million in a bid to increase underwriting capacity through acquisition.

Helios will acquire Nameco (No 76) and Kempton Underwriting for 1,454,535 new ordinary shares in the company.

The combined 2015 underwriting capacity of the LLVs is £2 million. Helios’ 2015 underwriting capacity prior to the acquisitions was £24.7 million.

Helios will acquire the LLVs from Will Roseff, who currently holds 1,168,969 ordinary shares in the company, representing 12.9 percent of the company's issued share capital). His holding would increase to 25 percent if the acquisitions proceed to completion.