LONDON, UK: Helios, a leading provider of insurance solutions, has announced the acquisition of Chorlton Underwriting Limited, a specialist underwriter of niche and non-standard risks, for £2m.

The deal, which was completed on 13 July 2023, is part of Helios’ strategy to increase its underwriting capacity and diversify its product portfolio. Helios paid £1.8m in cash and issued 123,457 new ordinary shares at £1.62 per share to the sellers.

Chorlton Underwriting, which was founded in 2015 and is based in Manchester, offers a range of bespoke insurance products to small and medium-sized businesses, such as cyber liability, professional indemnity, directors and officers liability, and public and employers liability.

Helios said that the acquisition will enhance its capabilities in the growing market for niche and non-standard insurance, and that it expects to achieve synergies and cross-selling opportunities with its existing business lines.

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