Lloyd’s of London market participant Helios Underwriting Plc is on the acquisition trail.
Hot on the heels of completing its swoop for Advantage DCP Limited is another deal in the insurance market. Worth £9.4 million, the latest transaction involves Lloyd’s limited liability member (LLV) 54532L.
Participating in a spread of Lloyd’s syndicates that broadly matches the existing portfolio of Helios, 54532L has a 2018 underwriting capacity of £10 million.
Helios, whose capacity was £45 million prior to snapping up 54532L, said the move will enable it “to continue to build its participations on the better syndicates at Lloyd’s.”
Meanwhile the company is pursuing a number of further LLV deals in line with its strategy of boosting underwriting capacity.
“The acquisition of 54532L, together with smaller acquisitions made earlier in the year has increased the Helios Capacity Portfolio by 35% in 2018 to date,” it said.
