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It’s a done deal for Helios Underwriting Plc and Advantage DCP Limited.
The Lloyd’s of London market participant has completed its latest acquisition, after securing Lloyd’s approval for the change of control. Advantage, the snapped up firm, is a limited liability member of the insurance market.
With the addition of Advantage’s 2018 underwriting capacity, Helios now writes approximately £45 million of capacity from £43 million previously.
When the swoop was first announced, the acquiring company said it would pay £450,000 in cash at completion plus the balance in tranches next year and in 2020, for a consideration of between £1.66 million and £1.91 million.
The transaction’s total amount depends on no deterioration from the current 2017 year of account midpoint forecast of Advantage and the final result of that year.
