STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED
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Cash
£11M
USD 14,165,000
-16.6% vs 2024
Net assets
£85M
USD 113,109,000
+4.9% vs 2024
Employees
—
Average over period
Profit before tax
£6.1M
USD 8,171,000
+3.9% vs 2024
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-02-20
| Metric | Trend | 2024-02-20 | 2025-02-20 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £221,039,078 | £220,598,143 | -0.2% | |
| Operating profit | £138,494 | £209,612 | +51.4% | |
| Profit before tax | £5,887,857 | £6,116,934 | +3.9% | |
| Net profit | £4,985,776 | £3,974,397 | -20.3% | |
| Cash | £12,717,473 | £10,604,132 | -16.6% | |
| Total assets less current liabilities | £694,392,873 | £830,270,250 | +19.6% | |
| Net assets | £80,700,704 | £84,675,101 | +4.9% | |
| Equity | £80,700,704 | £84,675,101 | +4.9% | |
| Average employees | — | — | — | |
| Wages | — | — | — | |
| Directors' remuneration | £20,213 | £26,950 | +33.3% |
Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-02-20 | 2025-02-20 |
|---|---|---|---|
| Operating margin | 0.1% | 0.1% | |
| Net margin | 2.3% | 1.8% | |
| Return on capital employed | 0.0% | 0.0% | |
| Gearing (liabilities / total assets) | 88.7% | 90.1% | |
| Current ratio | 1.39x | 1.17x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the above, the Directors have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future and they continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED · parent
- Steamship (Germany) GmbH 100%
Significant events
- “In 2024, the London operations moved from Aquatical House to a new leased office at 155 Bishopsgate. The lease obligation was undertaken by the Association.”
- “The 2021/22 policy year was closed in May 2024.”
- “the "Donate and Train Scheme" was officially launched in June 2024.”
- “With the continuing security concerns of transiting the Red Sea, the first of these programmes, "Maritime Security", provides guidance to seafarers in preparing them both mentally and physically for entering this and other high risk areas.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 22 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| THAWANI, Arjun | Secretary | 2018-02-20 | — | — |
| ANDREWS, Jonathan Howard Denis | Director | 2023-04-04 | Jan 1966 | British |
| GRIMALDI, Isabella | Director | 1999-09-21 | Aug 1954 | Italian |
| JONES, Graham Keith | Director | 2023-02-21 | Oct 1974 | British |
| JUAN MADINABEITIA, Carlos | Director | 2012-10-23 | Aug 1960 | Spanish |
| MCALLISTER, Brian Anthony | Director | 2022-12-21 | Oct 1967 | American |
| POHAN, Armand | Director | 2012-11-23 | Apr 1944 | American |
| RODRIGUEZ, Mario | Director | 2023-07-31 | Jan 1969 | American |
| ROOME, John William Joseph | Director | 2022-07-07 | Jul 1960 | British |
| TUNG, Lieh Sing Alan | Director | 2016-09-06 | Oct 1967 | Chinese |
| ZAGARI, Raffaele | Director | 2017-12-14 | Jun 1969 | Italian |
Show 22 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HANKINSON, Colin David | Secretary | 1997-03-21 | 1999-11-30 |
| HOOPER, David George | Secretary | — | 1997-03-20 |
| LAKEMAN, Richard Andrew | Secretary | 1999-11-30 | 2008-02-20 |
| WARD, Stephen Arthur, Mr. | Secretary | 2008-02-20 | 2018-02-20 |
| ADAMS, Christopher Barry | Director | 2019-02-20 | 2023-02-21 |
| AHRENKIEL, Christian Jurgen | Director | — | 2025-01-21 |
| BALSON, Charles Stanley | Director | 1996-09-24 | 1998-09-21 |
| BARLOW, Brian Norman | Director | 1995-09-26 | 1996-09-24 |
| BOUCH, Clive, Mr. | Director | 2013-01-21 | 2022-07-20 |
| BREAN, John Lawrence | Director | 1992-07-07 | 2008-10-28 |
| DASTUR, Farrokh Godrej | Director | — | 1991-12-03 |
| GRIMALDI, Aldo | Director | — | 1999-09-21 |
| JUNIEL, Herbert Menno, Mr. | Director | 1999-09-21 | 2016-05-10 |
| MARCHISOTTO, Alan Lewis | Director | 2005-10-25 | 2013-05-15 |
| MARTIN, Stephen James | Director | 2013-01-29 | 2023-04-04 |
| MURRAY, John Warren, Captain | Director | 2005-10-25 | 2012-05-08 |
| RYNSARD, Gary William Frederick, Mr. | Director | 2013-01-29 | 2019-02-20 |
| SHETH, Vasant Jagjiwan | Director | — | 1992-05-13 |
| SOURI, Mohammad | Director | — | 2011-02-20 |
| STRUTHERS, Alastair James | Director | — | 1995-09-26 |
| VALMAS, Michael Leonidas | Director | — | 2009-10-27 |
| VAUGHAN, Joe | Director | 1992-07-07 | 1999-09-21 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 157 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-07-07 | AA | accounts | Accounts with accounts type group | |
| 2025-07-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-29 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-26 | CH01 | officers | Change person director company with change date | |
| 2024-11-26 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-07-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-18 | AA | accounts | Accounts with accounts type group | |
| 2024-01-22 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-01-18 | CH01 | officers | Change person director company with change date | |
| 2023-08-07 | AP01 | officers | Appoint person director company with name date | |
| 2023-07-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-21 | AA | accounts | Accounts with accounts type group | |
| 2023-04-11 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-11 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-28 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-27 | TM01 | officers | Termination director company with name termination date | |
| 2022-12-21 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-22 | TM01 | officers | Termination director company with name termination date | |
| 2022-07-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-11 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.