Helios Underwriting acquires Chorlton in £2m deal

Insurance and reinsurance specialist Helios Underwriting announced the successful acquisition of Chorlton Underwriting on Friday, aligning with its strategic plan to expand its underwriting capacity.

The AIM-traded firm said the acquisition was completed for a total consideration of £1.997m, with a portion satisfied through the issue of new ordinary shares, and the remainder paid in cash.

Under the terms of the agreement, Helios acquired the entire issued capital of Chorlton Underwriting.

The consideration included £0.2m paid through the issue of 123,457 shares at a price of 162p per share, with the remaining amount settled in cash.

Reporting by Josh White for Sharecast.com.