IN BRIEF: Helios Underwriting launches buyback as asset value up 13%

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Helios Underwriting PLC - investment vehicle that provides participation in the Lloyd’s of London insurance market - Launches on Tuesday a share buyback worth up to £2 million. The repurchased shares will be held in treasury, where they will have no voting or dividend rights. Helios says its net asset value per share on December 31 is £2.14, after 6 pence in dividend payments, up 13% from £1.89 a year before. Total net assets are £152.6 million, up from £140.1 million. ‘The market conditions at Lloyd’s remain strong and Helios’ pipeline profitability from the portfolio underpins our confidence in the future performance of the business,’ says Executive Chair John Chambers.

Current stock price: 199.00p, up 7.6% in London on Tuesday

12-month change: up 13%

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