STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED
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Cash
—
Latest balance sheet
Net assets
£66m
USD 89,168,000
-26.3% lowest in 3 filed years
Employees
—
Average over period
Profit before tax
-£16m
USD -21,598,000
-347% lowest in 3 filed years
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-02-20
| Metric | Trend | 2024-02-20 | 2025-02-20 | 2026-02-20 | Δ vs prior |
|---|---|---|---|---|---|
| Gross written premiums | — | £233,776,279 | £238,237,823 | +1.9% | |
| Net earned premiums | — | £48,971,837 | £22,267,032 | -54.5% | |
| Claims incurred | — | £18,480,762 | £17,314,849 | -6.3% | |
| Investment return | — | £1,936,533 | £11,043,072 | +470.2% | |
| Profit before tax | £6,235,136 | £6,482,348 | -£16,011,565 | -347% | |
| Net profit | £5,279,848 | £4,211,821 | -£17,748,536 | -521.4% | |
| Insurance contract liabilities | — | £787,933,360 | £742,892,727 | -5.7% | |
| Total assets | £756,455,526 | £903,536,692 | £847,075,395 | -6.2% | |
| Total liabilities | £670,994,927 | £813,803,253 | £780,971,162 | -4% | |
| Equity | £85,460,599 | £89,733,439 | £66,104,233 | -26.3% | |
| Average employees | — | — | — | — |
Figures converted to GBP from USD at 0.741 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 | 2026-02-20 |
|---|---|---|---|---|
| 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% | 92.2% | |
| 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 work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED · parent
- Steamship (Germany) GmbH 100%
Significant events
- “Subsequent to the year end, the Association is closely monitoring developments in relation to the escalation of the conflict in the Middle East.”
- “The Association issued notices of cancellation in respect of Owned Hull War Risks, Charterers' and Other covers which include war risks relating to the Persian/Arabian Gulf region.”
- “The conflict has had minimal impact on the Association's underwriting, claims, investments and operations, and all sanctions are being adhered to as required.”
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 159 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-20 | AA | accounts | Accounts with accounts type group | |
| 2026-07-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 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 |
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.