Helios is an investment vehicle which builds shareholder value through participation in the Lloyd’s Market. We provide investors with a return uncorrelated to equity markets. We are a capital efficient business.
Investing in the best of Lloyd’s of London
A true spread vehicle
We invest capital across a diverse portfolio of the high-quality Lloyd’s syndicates, with experienced management teams, selected for their strong underwriting performance and robust risk management framework.
Our portfolio is actively managed to optimise capital deployment and enhance risk-adjusted returns.
Leading syndicates in the Helios portfolio
Syndicate: 5886
Capacity (£M): 37.48
Helios Portfolio %: 7.74
Syndicate: 623
Capacity (£M): 28.87
Helios Portfolio %: 5.96
Syndicate: 5623
Capacity (£M): 26.84
Helios Portfolio %: 5.55
Syndicate: 1729
Capacity (£M): 25.12
Helios Portfolio %: 5.19
Syndicate: 1971
Capacity (£M): 25.00
Helios Portfolio %: 5.16
Syndicate: 2358
Capacity (£M): 25.00
Helios Portfolio %: 5.16
Syndicate: 1955
Capacity (£M): 24.64
Helios Portfolio %: 5.09
Syndicate: 1910
Capacity (£M): 20.00
Helios Portfolio %: 4.13
Syndicate: 1609
Capacity (£M): 20.00
Helios Portfolio %: 4.13
Syndicate: 218
Capacity (£M): 19.40
Helios Portfolio %: 4.01
Our performance
Helios has a strong track record of delivering superior returns on capital and capacity.
Across the 2013 to 2022 underwriting years, Helios achieved an average return on capital of 12%, outperforming Loyd’s of London by 8%. For the 2023 year of account, the return on capital is estimated at 33.5% (as at May 2025), reflecting the strength of our portfolio and disciplined capital deployment.
Our portfolio of classes of business
The portfolio has a broad spread in terms of classes of business, geography, risk profile and exposure to both direct insurance and reinsurance.
We aim to mirror Lloyd’s class of business mix, where possible, but apply a strategic tilt by overweighting high-performing segments and underweighting those under pressure — enhancing return potential through active, risk-aware positioning.
A leader at Lloyd’s
2025 portfolio capacity, as at January 2025, of £484m underlines our status as a leading, active Lloyd’s syndicate portfolio manager.
| Syndicate | Managing agent | Capacity £M | Helios portfolio % of total |
|---|---|---|---|
Total Helios portfolio | 484 | 100 | |
33 | Hiscox | 15.11 | 3.12 |
218 | ERS | 19.4 | 4.01 |
318 | Cicinnati | 1.08 | 0.22 |
386 | QBE | 2.89 | 0.6 |
510 | TMK | 15.31 | 3.16 |
609 | Atrium | 18.79 | 3.88 |
623 | Beazley | 28.87 | 5.96 |
727 | Meacock | 2.96 | 0.61 |
1176 | Chaucer | 2.58 | 0.53 |
1609 | Mosiac | 20 | 4.13 |
1729 | Dale | 25.12 | 5.19 |
1902 | MCI | 12.64 | 2.61 |
1910 | Ariel Re | 20 | 4.13 |
1925 | Envelop | 7.5 | 1.55
|
1955 | Arch | 24.64 | 5.09 |
1966 | MCI 2 | 12.6 | 2.6
|
1971 | Apollo | 25 | 5.16 |
1985 | Flux | 12.69 | 2.62 |
2024 | ADA | 6.75 | 1.39 |
2121 | Argenta | 5.21 | 1.08 |
2358 | Nephila | 25 | 5.16 |
1427 | Agile | 15 | 3.1 |
2454 | ASR | 7.5 | 1.55 |
2525 | Secure Lby Solutions | 2.41 | 0.5 |
2689 | HRP | 14.76 | 3.05 |
2791 | MAP | 16.17 | 3.34 |
3123 | Fidelis | 14.06 | 2.9 |
3939 | Norman Max | 12 | 2.48 |
4242 | Beat | 16.52 | 3.41 |
5623 | Beazley | 26.84 | 5.55 |
5886 | Blenheim | 37.48 | 7.74 |
6103 | MAP | 4.62 | 0.95 |
6104 | Hiscox | 12.01 | 2.48 |
6117 | Ariel Re | 0.57 | 0.12 |
“Shares in Helios Underwriting PLC provide investors with a simple, low cost way of getting exposure to the Lloyd’s insurance market through a diverse spread of syndicates.”