Helios Underwriting, the publicly listed firm offering direct access to a range of syndicates at the specialist Lloyd’s insurance and reinsurance marketplace, has reported that net asset value (NAV) per share increased 3.8% to £2.48 for the third quarter ending 30 September 2025, up from £2.39 in Q2 2025.
The total net asset value at 30 September 2025 was £176.8 million, up from £170.4 million at 30 June 2025.
Helios saw a £0.7 million increase in portfolio value from auction and a £5.7 million increase in portfolio value from profit.
Louis Tucker, Chief Executive Officer of Helios Underwriting, commented, “The strong financial performance of Helios reflects our unique proposition and continued strategic delivery. With this, and the favourable underwriting conditions currently seen in the Lloyd’s market, we have continued to unlock shareholder returns, including a total capital return of £14m in 2025 via a dividend and tender.
“The period has been characterised by an increasingly disciplined approach to the allocation of capital – prioritising established syndicates with profitable track records over new syndicates – while making headway in bringing our operational costs down to a more sustainable level.
“Our portfolio management team has worked to increase the quality of Helios’ syndicate portfolio, which will show through in future years. Meanwhile, the Lloyd’s three-year accounting structure provides the Company with good visibility of positive cashflow for the next two years.”
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