Helios Underwriting acquires Dumasco

9th Jul 2014 10:01

Insurance group Helios Underwriting is set to acquire Dumasco, a limited liability member of Lloyd's (LLV) for £2.5m in cash. The acquisition is in line with the firm's strategy of increasing underwriting capacity through "acquiring corporate members as suitable opportunities arise".The underwriting capacity of the LLV is £1.5m compared to the firm's capacity of £21.3m before the acquisition.Chief Executive Officer Nigel Hanbury said: "We are delighted to have agreed a further LLV acquisition which will further increase our underwriting capacity. "[...] We continue to believe that there remain significant opportunities for further growth available to the company."As of 09:54 the share price was unchanged a 148p.WS