LONDON (ShareCast) - Helios Underwriting has bought Bernul, a limited liability member of Lloyd's for 0.8m pounds in cash.

The acquired assets include associated funds at Lloyd's to support its underwriting activities of £0.4m.

Helios expects Bernul will be included in the company's collateralised quota share reinsurance arrangement for the 2014 year of account.

Chief Executive Nigel Hanbury said: "We are delighted to have made a further LLV acquisition which further increases our underwriting capacity. This is in line with our stated strategy of acquiring corporate members as suitable opportunities arise.

"We continue to believe that there remain significant opportunities for further growth available to the company."

RD

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