Helia Group (ASX:HLI) said its gross written premium remains "well down" on historic levels despite rising in the September quarter year over year, as it continues to be negatively impacted by the Australian government's 5% deposit scheme, formerly known as the home guarantee scheme, according to a Wednesday Australian bourse filing.

The scheme supports eligible homebuyers to purchase a home, and it was further expanded on Oct. 1 by the government to allow first home buyers the ability to buy with a 5% deposit. The number of places is uncapped, income caps have been removed, and property price caps have been increased under all streams.

The company's gross written premium came in at AU$66.1 million in the quarter ended Sept. 30, compared with AU$50.4 million in the same period in the previous year, per the filing.

The lenders mortgage insurance provider's shares fell almost 2% in recent trading on Wednesday.