THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED
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Cash
—
Latest balance sheet
Net assets
£439M
USD 585,924,000
+11.4% highest in 3 filed years
Employees
1
0% vs 2025
Profit before tax
£46M
USD 60,956,000
+403.1% highest 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 | — | £398,067,825 | £337,361,132 | -15.3% | |
| Net earned premiums | — | £271,145,381 | £254,482,707 | -6.1% | |
| Claims incurred | — | £260,693,966 | £222,716,724 | -14.6% | |
| Investment return | — | £53,595,598 | £62,785,597 | +17.1% | |
| Profit before tax | £39,863,752 | £9,069,471 | £45,632,580 | +403.1% | |
| Net profit | £39,687,828 | £8,266,208 | £44,931,876 | +443.6% | |
| Insurance contract liabilities | — | -£949,799,371 | -£864,383,890 | +9% | |
| Total assets | £1,531,428,358 | £1,382,536,308 | £1,334,262,614 | -3.5% | |
| Total liabilities | — | -£988,836,652 | -£895,631,082 | +9.4% | |
| Equity | £385,508,310 | £393,699,656 | £438,631,532 | +11.4% | |
| Average employees | 1 | 1 | 1 | 0% |
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 | 2026-02-20 |
|---|---|---|---|---|
| Net margin | 9.9% | 2.1% | — | |
| Gearing (liabilities / total assets) | 76.4% | 71.5% | 67.1% |
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 2 times since incorporation
- THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED 2021-02-18 → present
- THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION (EUROPE) LIMITED 2007-01-30 → 2021-02-18
- SUNDERLAND STEAMSHIP PROTECTING AND INDEMNITY ASSOCIATION 1886-02-18 → 2007-01-30
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 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 club's and 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
- THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED · parent
- UK P&I Club N.V. 100%
- The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited 100%
- Hydra Insurance Company Limited 100%
- The United Kingdom Mutual Steam Ship Assurance Association (London) Limited 100%
- International P&I Reinsurance Company Limited 100%
Significant events
- “In November, the Board agreed to proceed with exploring a merger with TT Club, another Thomas Miller-managed mutual. The USA-Israel-Iran conflict started on 28 February 2026 has disrupted global shipping, primarily through heightened risk in the Strait of Hormuz. P&I War Risks are either not covered or, where applicable, they are 100% reinsured. Subsequent to the reporting date, and in addition to the ongoing merger discussions with the TT Club, the Boards of the two Clubs jointly submitted a non-binding proposal to acquire the entire issued share capital of their manager, Thomas Miller Holdings Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 42 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HALPENNY, Kieran Patrick | Secretary | 2013-01-28 | — | — |
| AUDAZ, Laurent Raymond | Director | 2024-12-04 | Dec 1971 | French |
| BEALE, Simon Charles Waldegrave | Director | 2021-10-18 | Jul 1961 | British |
| BUTLER, Michael John Christopher | Director | 2021-12-01 | Apr 1954 | British |
| CHEN, Randy | Director | 2017-05-08 | Jul 1973 | American |
| CHIU, Billy | Director | 2026-03-19 | Nov 1962 | Singaporean |
| DE SILVA, Nigel Christopher | Director | 2018-06-12 | Jul 1976 | British |
| GILLETT, Roger Charles | Director | 2013-02-20 | Jul 1952 | British |
| NOMIKOS, Markos | Director | 2022-11-07 | Oct 1965 | Greek |
| TAYLOR, Andrew John | Director | 2014-07-01 | Nov 1970 | British |
| VALKIER, Jan Marinus | Director | 2021-10-18 | Oct 1962 | Dutch |
Show 42 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FINN, James Gerald | Secretary | — | 1994-04-20 |
| JARRETT, Ian Richard | Secretary | 2007-05-02 | 2009-12-31 |
| KILLICK, Robert Douglas John | Secretary | — | 1994-06-15 |
| SUNDERLAND P AND I MANAGEMENT LIMITED | Corporate Secretary | 1994-06-15 | 2007-05-02 |
| THOMAS MILLER P&I (EUROPE) LIMITED | Corporate Secretary | 2009-12-31 | 2013-01-28 |
| ANDRE, Eric Fritz | Director | 2009-02-20 | 2014-10-26 |
| ANGELICOUSSIS, John Anthony | Director | — | 1997-07-09 |
| AZIZAN, Amir Hamzah Bin, Mr. | Director | 2007-01-25 | 2011-10-17 |
| BAPTIST, Norman William George | Director | 1997-07-09 | 2005-03-31 |
| BERRY, David John | Director | — | 1994-08-08 |
| CAROUSSIS, Constantine Issidoros | Director | 2005-11-07 | 2013-10-28 |
| CLACY, Philip Brian | Director | 2015-04-30 | 2015-04-30 |
| DECAVELE, Patrick Pascal | Director | 2005-06-10 | 2011-02-20 |
| EFTHYMIOU, Nicholas Demetris | Director | — | 1997-07-09 |
| EVERARD, Frederick Michael | Director | — | 2008-11-19 |
| FRANCO, Harley Vincent | Director | 2015-12-10 | 2019-07-04 |
| GAST, Ottmar | Director | 2013-02-20 | 2017-10-30 |
| GAUNT, Ian Jeremy | Director | 2005-05-18 | 2008-09-22 |
| GOLDTHORPE, Jonathan Michael | Director | 2013-02-20 | 2014-07-01 |
| HELMSING, John Heinrich | Director | — | 1994-08-08 |
| HIGURASHI, Yutaka | Director | 2019-05-13 | 2022-09-30 |
| INGLESSIS, Nikolaos | Director | 2009-02-20 | 2023-11-07 |
| ITKIN, Myles Robert | Director | 2013-02-20 | 2013-04-04 |
| KAIRIS, Alexander Giannis | Director | 1997-07-09 | 2000-06-28 |
| KANELLAKIS, Christos | Director | — | 1997-07-09 |
| KNIGHT, Paul Jonathan Olsen | Director | 2011-02-28 | 2011-02-28 |
| MACKINNON, Alan Alexander John | Director | 2011-02-28 | 2011-02-28 |
| MARGARONIS, Anastasios | Director | 2013-02-20 | 2019-11-04 |
| MOROOKA, Masamichi, Mr. | Director | 2013-02-20 | 2017-10-30 |
| NOMICOS, Dimitris Loucas | Director | — | 1997-07-09 |
| NOMICOS, Nicolas Loucas | Director | — | 1997-07-09 |
| OLIVIER, Alan Keith | Director | 2009-02-20 | 2018-10-29 |
| PATERAS, Michael | Director | — | 1997-07-09 |
| PERATICOS, Michael Constantinos | Director | — | 1997-07-09 |
| PERATICOS, Nicholas Michael | Director | — | 1997-07-09 |
| SAUNT, Thomas | Director | — | 1995-09-22 |
| SCHUES, Hans Nikolaus | Director | 2013-02-20 | 2024-11-04 |
| SMITH, Nigel Hugh Hamilton | Director | 2013-02-20 | 2021-11-30 |
| VOGT, Paul Johan | Director | — | 2007-05-01 |
| WOGAN, Paul Anthony | Director | 2016-09-15 | 2021-02-20 |
| WOGAN, Paul | Director | 2007-01-25 | 2008-02-28 |
| WYNN-WILLIAMS, Huw James | Director | 2013-02-20 | 2018-06-12 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 206 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-08-29 MA Memorandum articles
- 2023-08-29 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-24 | AA | accounts | Accounts with accounts type group | |
| 2026-04-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-09 | AA | accounts | Accounts with accounts type group | |
| 2025-02-28 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2025-02-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-15 | CH01 | officers | Change person director company with change date | |
| 2024-12-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-23 | AUD | auditors | Auditors resignation company | |
| 2024-08-28 | AA | accounts | Accounts with accounts type group | |
| 2024-02-21 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-05 | AA | accounts | Accounts with accounts type group | |
| 2023-08-29 | MA | incorporation | Memorandum articles | |
| 2023-08-29 | RESOLUTIONS | resolution | Resolution | |
| 2022-12-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-16 | AP01 | officers | Appoint person director company with name date | |
| 2022-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2022-09-16 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- 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.