Helios ups its Lloyd’s retained capacity 39% for 2023

Helios Underwriting, a market-listed consolidator of  Lloyd’s capacity, walks into 2023 with £238.3 million in retained underwriting capacity for the year, a 39% increase versus the start of 2022.

The overall portfolio, including a lightly reduced £58.3 million in reinsured capacity, has increased 27% to £296.6 million.

The increase year on year includes £5.7 million from recent acquisitions, £36 million in pre-emption capacity, £38.9 million in additions to tenancy capacity, offset by £16.7 million sold in capacity auctions.

"Market discipline remains strong and we are confident that 2023 will offer superior returns," Helios chief executive officer Nigel Hanbury said.

January renewals offered a boost with "significant pricing improvement and market dislocation in the reinsurance and retro markets," he added, helping to leave rate indexes "at or above" Helios requirement for most lines.

Retained capacity has been on a tear and the capacity consolidator with 2023 retained capacity now 3.6 times the 2020 sum, rendering a hefty compound annual growth rate of 38%.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.