Helios Underwriting, a listed company that provides instant access to Lloyd’s of London’s syndicated portfolio, has announced results for the year to 31 December 2025, disclosing a net asset value (NAV) total return of 12.3% as it streamlines its business to support the 2026 underwriting financial year.
Helios’ pre-tax profits for 2025 were £20.5m, down slightly from the £20.9m reported the previous year. Helios’ capacity mix is £467.4 million in 2025, compared with £495.9 million in 2024.
Meanwhile, total capital return to shareholders for financial year 2025 amounts to 20p per share, an increase from the 12p distributed in 2024.
Looking ahead, the company is proposing a further 20p capital return in 2026, subject to shareholder approval.
The planned distribution is expected to include a basic dividend of 7p, a special dividend of 3p and a return of 10p through a share buyback and/or tender offer.
In line with its capital management strategy, the company launched a share buyback program in April 2026, targeting a total return of up to £2 million to shareholders.
Helios also advanced its strategic efforts to streamline operations by reducing the number of live-forward corporate members supporting underwriting accounts through 2026 to simplify the overall business.
This operational shift is said to have successfully reduced financing costs and reduced leverage by £3.7 million.
Louis Tucker, CEO of Helios Underwriting, commented: “I am delighted to announce my first full year results as CEO of Helios. During the period we have achieved significant growth in net asset value, driven by strong operating profits, resulting in another increase in total shareholder returns.
“While market conditions remain strong, this period has been characterized by a softening of the ratings environment. As we enter the next phase of the cycle, we will continue to actively manage the portfolio to reflect changing market conditions.
“In addition to our portfolio composition, we have taken steps to simplify the business and reduce operating costs and liabilities, and we remain committed to achieving further operational efficiencies.
“With the new team firmly in place and our data-led approach refined, I believe we are well-positioned to continue to outperform the market over the long term and deliver attractive returns to shareholders, thanks to our truly differentiated proposition.”
John Chambers, non-executive chairman of Helios Underwriting, added: “The board remains focused on disciplined capital allocation and maintaining a diversified and resilient portfolio.
“With a significant increase in net asset value, steadily improving opening year profit expectations, a focus on improving capital efficiency and significant projected cash flow, Helios is confident it can continue to deliver shareholder returns.
“The combination of an experienced leadership team and significant opportunities in the Lloyd’s market positions Helios well for its next phase of growth.
“On behalf of the Board, I would like to thank our shareholders for their continued support throughout the year and my colleagues for their contributions. We look forward to continuing this momentum in the year ahead.”