Hampden Underwriting

www.hampdenplc.com TICKER: HUW     EXCHANGE: L

Hampden Underwriting plc was founded in 2007 to fill a gap in the market; it is the only quoted company to provide small investors access to a portfolio of Lloyd's syndicates. The earlier investment-trust-like companies that had provided capital for several Lloyd's syndicates had all turned themselves into integrated Lloyd's vehicles or been taken over. The company provides capital backing to two dozen Lloyd's syndicates providing a spread of exposure, both geographically and to different categories of risk, which is capital-efficient and moderates the impact of catastrophes and of the premium rate cycle. The company is advised by Hampden Agencies, the leading Members' Agent (i.e. working on behalf of the Names who have traditionally provided the capital supporting the underwriting undertaken by the Syndicates). The larger part of its capital is invested through one of the Members Agents Pooling Arrangements ('MAPA') managed by Hampden Agencies, with smaller amounts directly backing individual syndicates.


2008 results
Published: May 28 2009

Unexpected costs of Hurricane Ike a factor

Profits and dividend expected in current year

Share price at discount to NAV looks anomalous

Initiation of coverage
Published: Dec 08 2008

Positive outlook for Lloyd's syndicates due to capital shortage in non-life insurance and reinsurance

Superior returns expected from diverse underwriting

NAV of 97p / share well above current price


Foreign buyers gorging on UK stocks

Document can be downloaded here: UK plc ‘going for a song’

Being a shareholder in a company that receives a juicy takeover offer is a marvellous feeling. Something that many fortunate investors have experienced over the past 3 years. Thanks to a spate of M&A bids by deep pocketed overseas buyers – partly triggered by the June 2016 Brexit result, which sent the £ tumbling and adversely affected the FTSE.

Consequently today, given this trend is unlikely to end anytime soon, we’ve highlighted 30 possible acquisition ideas in the attached research paper. Spilt equally between large and smallcap stocks – covering a broad selection of industries.

What’s more we believe most of these businesses are underpinned by strong fundamentals and substantial upside in the event of predatory interest.

According to Factset Mergerstat/BVR, the average bid premium paid for such deals between 2004-14 was 30% – with the figure trending upwards since the global financial crisis.

Happy investing. Published 27th August 2019