Helios
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Michael Wade, who joined Helios in 2023, led the group’s portfolio-restructuring exercise. -
The reduction in capacity reflects “strategic adjustments”.
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The company’s net asset value per share is expected to hit £2.06.
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The vehicle’s GWP increased by 45% to £230mn over the period.
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The Lloyd’s vehicle also announced Chambers as an independent non-executive director.
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The Lloyd’s vehicle will focus on its existing spread portfolio.
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The investment vehicle reported a profit before tax of £22.7mn.
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The move follows work to create a capacity rental venture with members’ agent Argenta.
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The appointment of additional non-executive directors is currently under consideration.
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The investment vehicle saw an increase of 22% in the firm's NAV in 2023.
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The carrier recently launched a rental capacity initiative with Argenta Private Capital.
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