HELIOS ‘OUTPERFORMED’ LLOYD’S MARKET IN 2020

Lloyd’s investment company Helios reported a 31% increase in the capacity portfolio in 2020 and said it anticipates further growth. As a result of five acquisitions made last year for a total consideration of £10m ($14.2m), the private capital consolidator outperformed the Lloyd’s market by 5.7% in this period. The company, which acquires and consolidates underwriting capacity at Lloyd’s, realised £639,000 of underwriting profit last year, compared with £3.26m in 2019. It also reported £2.9m in other income for 2020, which represents a rise from £2.56m the year before. This led to a £301,000 profit before tax in 2020, compared with £4.05m the previous year. Improvement in market conditions led to some reductions in discounts.