TALBOT 2002 UNDERWRITING CAPITAL LTD
Operating as a subsidiary of American International Group, the company acts as a corporate member providing capital to support the underwriting activities of Talbot's Syndicate 1183 at Lloyd's of London.
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Cash
£52M
USD 69,600,000
-61.7% vs 2023
Net assets
£199M
USD 266,000,000
+9.2% vs 2023
Employees
—
Average over period
Profit before tax
£73M
USD 97,900,000
-52.2% vs 2023
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £1,059,065,728 | £988,621,051 | -6.7% | |
| Operating profit | £144,632,430 | £92,453,960 | -36.1% | |
| Profit before tax | £153,241,503 | £73,289,415 | -52.2% | |
| Net profit | £120,227,579 | £58,017,667 | -51.7% | |
| Cash | £135,948,495 | £52,103,608 | -61.7% | |
| Total assets less current liabilities | — | — | — | |
| Net assets | £182,287,768 | £199,131,607 | +9.2% | |
| Equity | £182,287,768 | £199,131,607 | +9.2% | |
| Average employees | — | — | — | |
| Wages | £23,581,374 | £23,057,344 | -2.2% | |
| Directors' remuneration | £1,422,369 | £1,646,953 | +15.8% |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 13.7% | 9.4% | |
| Net margin | 11.4% | 5.9% | |
| Gearing (liabilities / total assets) | 92.7% | 92.6% | |
| Current ratio | 2.89x | 2.73x | |
| Interest cover | — | 72.65x |
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.
Name history
Renamed 1 time since incorporation
- TALBOT 2002 UNDERWRITING CAPITAL LTD 2001-11-14 → present
- DWSCO 2201 LIMITED 2001-07-23 → 2001-11-14
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Company will continue as a going concern.”
Significant events
- “A series of wildfires affected the Los Angeles metropolitan area during January 2025. The Syndicate has exposure to this in its Property and Marine classes of business and has determined an estimated range of $34m to $68m for the gross loss during the first quarter.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 15 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COWLING, Richard David | Director | 2022-04-26 | Dec 1982 | British |
| ROSS, Julian Graeme | Director | 2016-12-01 | Dec 1965 | British |
| WOOLLEY, Emma Louise | Director | 2025-05-08 | Jan 1979 | British |
Show 15 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CLOUTING, Jane Sarah, Ms. | Secretary | 2001-11-14 | 2018-09-30 |
| GALLAGHER, Marie-Claire | Secretary | 2018-09-30 | 2024-04-03 |
| DWS SECRETARIES LIMITED | Corporate Nominee Secretary | 2001-07-23 | 2001-11-14 |
| ATKIN, Charles Neville Rupert | Director | 2001-11-14 | 2016-06-14 |
| BARTON, Catherine Elizabeth | Director | 2020-11-05 | 2021-08-31 |
| BILSBY, Peter Antony | Director | 2014-04-03 | 2019-02-01 |
| BONVARLET, Gilles Alex Maxime | Director | 2005-04-15 | 2009-04-09 |
| CARPENTER, Michael Edward Arscott | Director | 2001-11-14 | 2014-04-03 |
| CLOUTING, Jane Sarah, Ms. | Director | 2001-11-14 | 2018-09-30 |
| MORRIS, David Ernest | Director | 2020-09-16 | 2021-01-30 |
| RASH, Christopher John Roland | Director | 2021-05-10 | 2025-05-08 |
| SKINNER, James Edward | Director | 2018-11-21 | 2020-07-17 |
| SLADE, David Martin | Director | 2001-11-14 | 2002-02-08 |
| WACHMAN, Nigel David | Director | 2001-11-14 | 2020-09-16 |
| DWS DIRECTORS LIMITED | Corporate Nominee Director | 2001-07-23 | 2001-11-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| American International Group, Inc | Corporate entity | Shares 75–100% | 2018-07-18 | Active |
| Validus Holdings, Ltd. | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2018-07-18 |
Filing timeline
Last 20 of 188 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-06-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-19 | AA | accounts | Accounts with accounts type full | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-01 | AA | accounts | Accounts with accounts type full | |
| 2024-07-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-04-04 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-10-05 | AA | accounts | Accounts with accounts type full | |
| 2023-08-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-28 | AA | accounts | Accounts with accounts type full | |
| 2022-08-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-05-03 | AP01 | officers | Appoint person director company with name date | |
| 2022-03-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-09-29 | AA | accounts | Accounts with accounts type full | |
| 2021-09-14 | TM01 | officers | Termination director company with name termination date | |
| 2021-08-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-05-20 | AP01 | officers | Appoint person director company with name date | |
| 2021-02-09 | TM01 | officers | Termination director company with name termination date | |
| 2020-11-12 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months