ILS Capital Management adds to stake in Lloyd’s investor Helios

ILS Capital Management adds to stake in Lloyd’s investor Helios

Bermuda headquartered ILS fund and reinsurance connected investment manager ILS Capital Management has actually bought more shares in Helios Underwriting, the Lloyds of London focused financial investment and underwriting vehicle.The acquisition of additional shares on Friday by ILS Capital Managements flagship insurance-linked securities (ILS) fund car, the 1609 Fund Ltd., takes the supervisors stake in Helios to 19.4%.
ILS Capital Management, or funds under its management, initially invested in Helios back in March 2021, when the ILS financial investment manager invested ₤ 20.8 million into the company during one of its fund-raising rounds.
At the same time Tom Libassi, co-founder and handling partner of ILS Capital Management, ended up being a non-executive director of Helios with a seat on the board.
Now, according to a filing, the 1609 Fund Ltd. has actually bought 175,000 regular shares of 10 pence each in Helios Underwriting at 160 pence each on November 19th 2021.
After this share acquisition, funds under the management of, or connected with, ILS Capital Management, now hold in aggregate 13,347,000 Ordinary Shares in Helios Underwriting.
That represents approximately 19.4% of the total ballot rights in Helios and ILS Capital is among the largest shareholders in Helios at this time.
ILS Capital Management has made a number of investments into Lloyds market business via a series of entities.
Helios, as a financier in minimal liability cars, is a method for ILS Capital to acquire broad exposure to the returns of the Lloyds insurance coverage and reinsurance market, by means of a structure that does the essential diligence on specific Lloyds chances.
By using ILS capital suppliers, Helios can align its own processes with other skilled insurance and reinsurance market investors and underwriters, providing a route to tap their cravings for follow-on capital should the company discover more chances to purchase vehicles at Lloyds.

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