NATIONAL FARMERS UNION MUTUAL INSURANCE SOCIETY LIMITED(THE)
Trading as NFU Mutual, the entity is a mutual insurance society providing agricultural, commercial, and personal insurance, alongside investment and pension products, primarily to the UK rural community.
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Cash
—
Latest balance sheet
Net assets
£8.3bn
+10.7% highest in 3 filed years
Employees
4,601
+2.6% highest in 3 filed years
Profit before tax
£919m
+141.2% 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 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Gross written premiums | — | £2,416,000,000 | £2,559,000,000 | +5.9% | |
| Net earned premiums | — | £2,166,000,000 | £2,373,000,000 | +9.6% | |
| Claims incurred | — | £1,926,000,000 | £1,909,000,000 | -0.9% | |
| Investment return | — | £588,000,000 | £888,000,000 | +51% | |
| Profit before tax | £163,000,000 | £381,000,000 | £919,000,000 | +141.2% | |
| Net profit | £164,000,000 | — | £729,000,000 | — | |
| Insurance contract liabilities | — | £12,648,000,000 | £12,842,000,000 | +1.5% | |
| Total assets | £19,668,000,000 | £20,232,000,000 | £21,661,000,000 | +7.1% | |
| Total liabilities | £12,636,000,000 | £12,355,000,000 | £13,031,000,000 | +5.5% | |
| Equity | £7,032,000,000 | £7,480,000,000 | £8,278,000,000 | +10.7% | |
| Average employees | 4,403 | 4,483 | 4,601 | +2.6% |
Values shown as filed in the company's annual accounts. — 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 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 7.6% | 15.8% | — | |
| Net margin | 7.6% | — | — | |
| Return on capital employed | 1.5% | 3.5% | — | |
| Gearing (liabilities / total assets) | 64.2% | 63.0% | 61.8% | |
| Current ratio | 0.38x | 0.36x | — |
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
- NATIONAL FARMERS UNION MUTUAL INSURANCE SOCIETY LIMITED(THE) 1919-06-21 → present
- MIDLAND FARMERS MUTUAL INSURANCE SOCIETY LIMITED 1910-09-30 → 1919-06-21
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Given all the above, the Directors consider that NFU Mutual and the Group have adequate resources to continue in operation for a period of at least 12 months and are satisfied that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- NATIONAL FARMERS UNION MUTUAL INSURANCE SOCIETY LIMITED(THE) · parent
- NFU Mutual Management Company Limited
- NFU Mutual Direct Investments Limited
- NFU Mutual Pension Fund Trust Company Limited
- Salmon Harvester Properties Limited 50%
Significant events
- “In 2025, we successfully reduced our own emissions by 55%, compared to our 2019 baseline.”
- “In 2025, we renewed our partnership with the Environmental Farmers Group (EFG) with the aim of helping farmers manage the risks of devolving land to environmental and regenerative schemes within natural capital markets.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
13 active · 49 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JOHNS, Sian Elizabeth | Secretary | 2024-05-01 | — | — |
| BAILIE, Jonathan Robert | Director | 2018-03-19 | Dec 1963 | British |
| CAPPER, Alison Mary | Director | 2018-04-09 | Jun 1968 | British |
| DEANE, John Vincent | Director | 2022-11-01 | Aug 1958 | British |
| FAIRHEAD, Alan Charles | Director | 2020-11-01 | May 1959 | British |
| KELSALL, Rachel Joanna | Director | 2023-04-01 | Aug 1969 | British |
| MCLAREN, James Crawford | Director | 2012-01-01 | Jul 1967 | British |
| MORLEY, Richard David | Director | 2018-10-26 | Jul 1967 | British |
| SIMPSON, Sarah Elizabeth | Director | 2024-09-01 | Jul 1973 | British |
| SMITH, David William | Director | 2023-01-01 | Aug 1959 | British |
| TURNER, Nicholas James | Director | 2013-07-01 | Jul 1967 | British |
| WATSON, Nicholas John | Director | 2021-05-24 | Apr 1969 | British |
| WILLIAMS, Sally Angela Helen | Director | 2025-12-01 | Jul 1966 | British |
Show 49 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COOPER, William Edward | Secretary | — | 2002-08-31 |
| CREECHAN, James Damian | Secretary | 2002-06-01 | 2024-04-30 |
| HITCHCOCK, Arnold Quinney | Secretary | — | 1999-07-31 |
| AINSLIE, Ross Robert | Director | 2021-03-01 | 2022-10-31 |
| ANDERSON, David | Director | 2010-06-18 | 2014-02-14 |
| ARIF, Kim | Director | 2007-01-01 | 2018-04-23 |
| BOWER, Steven Mark | Director | 2010-07-01 | 2023-03-31 |
| BUCHANAN, Elizabeth Faith Currer | Director | 2023-04-01 | 2023-10-27 |
| BUTLER, Richard Charles | Director | 1998-11-01 | 2008-12-31 |
| BUTLER, Richard Clive, Sir | Director | — | 1996-01-12 |
| CADBURY, Roger Victor John | Director | 1998-04-01 | 2002-12-31 |
| CARTER, Richard John, Jp | Director | 1997-02-10 | 2003-05-31 |
| COLDICUTT, Peter Edward | Director | — | 1994-10-20 |
| CURRY, Donald Thomas Younger, Lord | Director | 1997-07-30 | 2011-12-31 |
| DEACON, Robert Anthony | Director | 1995-05-18 | 1997-06-30 |
| DOWDALL, Michael | Director | — | 1997-02-09 |
| DUFFIN, Brian James | Director | 2014-01-01 | 2022-12-31 |
| ELLIOT, John Andrew | Director | 2009-01-09 | 2016-12-31 |
| EVANS, Alun | Director | — | 2000-05-31 |
| EVANS, Jonathan Peter | Director | 2000-06-01 | 2010-06-17 |
| FROST, Alan John | Director | 2002-02-11 | 2009-12-31 |
| GEDEN, Ian Scott | Director | 1999-08-01 | 2008-12-31 |
| GRANT, Ian David, Sir | Director | — | 2008-07-31 |
| HANN, James, Sir | Director | 1993-11-18 | 1998-01-18 |
| HARRIS, Alan | Director | 2006-01-03 | 2011-05-31 |
| HIBBERD, Sally-Ann | Director | 2014-07-01 | 2018-01-29 |
| HODSON, Beverley Cliffe | Director | 2008-07-01 | 2012-06-21 |
| HORRELL, Michael John | Director | — | 1998-10-31 |
| IDE, Christopher George | Director | 2010-01-01 | 2013-06-28 |
| JACKSON, James Alan | Director | — | 1994-10-20 |
| KENNEDY, Harriet Christine, Dr | Director | 2014-11-14 | 2023-03-31 |
| LEECH, Ian Charles | Director | 2010-10-01 | 2013-08-30 |
| MADDERS, William Woodhouse | Director | 1994-10-20 | 2003-10-31 |
| MCCUSKER, Eileen Elizabeth | Director | 2012-07-01 | 2020-08-07 |
| MCINTYRE, James Archibald | Director | — | 1993-09-16 |
| MORROW, William Robert | Director | — | 1998-04-30 |
| NEWTON, Robert | Director | 2003-01-01 | 2006-03-31 |
| PERCY, Charles Richard | Director | 2003-06-01 | 2019-09-30 |
| QUINNEY, Adam Chavasse | Director | 2016-10-01 | 2017-08-31 |
| RANKIN, John Andrew | Director | 1998-05-01 | 2006-06-30 |
| RITCHLEY, Martin Howard | Director | 2003-11-01 | 2011-06-30 |
| ROPER, David Andrew | Director | 2019-09-01 | 2026-03-31 |
| ROSS, John Alexander | Director | 1996-03-09 | 2006-12-31 |
| SCHOUTEN, Wilhelmus Johannes Maria | Director | 2001-09-20 | 2009-12-31 |
| SINCLAIR, Lindsay Neil | Director | 2008-08-01 | 2021-03-31 |
| STOOKE, Christopher Macdonald | Director | 2011-07-01 | 2020-12-31 |
| TIGWELL, Derek Frank | Director | 1994-10-20 | 1998-12-31 |
| TINSLEY, Mark Patrick | Director | 2006-07-01 | 2014-12-31 |
| YOUNG, Andrew Skinner | Director | — | 2002-01-31 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 259 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-25 | AA | accounts | Accounts with accounts type full | |
| 2026-05-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-05-27 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2026-04-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | CH01 | officers | Change person director company with change date | |
| 2025-12-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-12 | AA | accounts | Accounts with accounts type group | |
| 2025-06-09 | CH01 | officers | Change person director company with change date | |
| 2025-06-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-31 | AA | accounts | Accounts with accounts type group | |
| 2024-05-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-05-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-11-07 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-27 | AA | accounts | Accounts with accounts type group | |
| 2023-05-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-04-06 | AP01 | officers | Appoint person director company with name date | |
| 2023-04-06 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-06 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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.