LONDON (ShareCast) - 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

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