Directorate Change

Helios, the only publicly traded investment company offering instant access to a diverse portfolio at Lloyd's of London, the world's largest insurance market, today announces that Martin Reith has stepped down from his role as Chief Executive Officer, to pursue other opportunities.

Michael Wade, currently Non-Executive Chairman, will become Executive Chairman with immediate effect as the search for Martin's successor begins. Nigel Hanbury, currently Executive Deputy Chairman, will become Non-Executive Deputy Chairman.

Helios recently reported a significant rise in profits and distributions in its full year 2024 results. The Company reported doubling of the capacity over the last two years of its Lloyd's syndicate portfolio to £507m for 2024, underlining its strategy and commitment as a manager of its spread on the 2024 year of account, where the Company has a retained proportion of 77%.The Company reiterated its intention to continue to act for third-party capital providers and anticipates this will grow as a proportion into 2025.

Following recent press speculation, the Board can confirm that it has explored the potential of establishing a new 'follow only' syndicate at Lloyd's, but it has decided not to pursue this concept in order to focus exclusively on supporting its spread portfolio.

Michael Wade, Executive Chairman of Helios, commented:

"Martin has made a significant contribution to Helios and has been instrumental in developing the Helios spread syndicate portfolio, accelerating the performance of the Company and growing our in-house management team. We wish him the very best for the future."