The FY17 results will inevitably be impacted by the 2017 catastrophe losses but we believe the quality of Helios’s Lloyd’s portfolio will enable it to continue to outperform the average, as seen with the latest syndicate returns. We reduce FY17E’s pre-tax loss (Norm) to £0.42m and raise FY18E PBT Norm to £0.46m and FY19E to £1.0m. Helios is well positioned to benefit from rate rises, plus we believe more LLVs should come up for sale through 2018-19, and at
17 Apr 2018
Pain today but growing upside potential
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Pain today but growing upside potential
Helios Underwriting PLC (HUW:LON) | 180 0 0.0% | Mkt Cap: 134.5m
- Published:
17 Apr 2018 -
Author:
Joanna Parsons -
Pages:
20
The FY17 results will inevitably be impacted by the 2017 catastrophe losses but we believe the quality of Helios’s Lloyd’s portfolio will enable it to continue to outperform the average, as seen with the latest syndicate returns. We reduce FY17E’s pre-tax loss (Norm) to £0.42m and raise FY18E PBT Norm to £0.46m and FY19E to £1.0m. Helios is well positioned to benefit from rate rises, plus we believe more LLVs should come up for sale through 2018-19, and at