TESCO UNDERWRITING LIMITED
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Cash
—
Latest balance sheet
Net assets
£287M
+7.7% highest in 3 filed years
Employees
461
+14.4% highest in 3 filed years
Profit before tax
£33M
-21.7% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-02-28
| Metric | Trend | 2024-02-29 | 2025-02-28 | 2026-02-28 | Δ vs prior |
|---|---|---|---|---|---|
| Gross written premiums | — | — | — | — | |
| Net earned premiums | — | £653,400,000 | £739,500,000 | +13.2% | |
| Claims incurred | — | £561,800,000 | £702,400,000 | +25% | |
| Investment return | — | £29,100,000 | £40,300,000 | +38.5% | |
| Profit before tax | £35,800,000 | £41,500,000 | £32,500,000 | -21.7% | |
| Net profit | £27,000,000 | £31,500,000 | £24,500,000 | -22.2% | |
| Insurance contract liabilities | — | £792,400,000 | £962,300,000 | +21.4% | |
| Total assets | £871,700,000 | £1,061,200,000 | £1,251,800,000 | +18% | |
| Total liabilities | — | £795,100,000 | £965,100,000 | +21.4% | |
| Equity | £202,700,000 | £266,100,000 | £286,700,000 | +7.7% | |
| Average employees | 361 | 403 | 461 | +14.4% |
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 | 2024-02-29 | 2025-02-28 | 2026-02-28 |
|---|---|---|---|---|
| Operating margin | 5.1% | 3.2% | — | |
| Net margin | 6.4% | 4.8% | — | |
| Return on capital employed | 4.7% | 4.1% | — | |
| Gearing (liabilities / total assets) | 76.7% | 74.9% | 77.1% | |
| Current ratio | 0.39x | 0.33x | — | |
| Interest cover | 3.29x | 1.99x | — |
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
- TESCO UNDERWRITING LIMITED 2010-10-08 → present
- SHOO 471 LIMITED 2009-07-20 → 2010-10-08
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider that the Company has adequate resources to remain in operation for the foreseeable future and have therefore continued to adopt the going concern basis in preparing the Financial Statements.”
Significant events
- “Following the sale of the banking operations to Barclays UK on 1 November 2024, a programme has been established to separate the operations and necessary to support Tesco Insurance and Money Services (IMS) referred to as the Day 2 programme.”
- “After the year end date of 28 February 2026, there was an escalation of conflict in the Middle East. As the Company operates solely within the United Kingdom and has no direct exposure to the affected regions, this event does not impact the amounts recognised in these financial statements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 37 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| STIVEY, Gail Evelyn | Secretary | 2025-07-04 | — | — |
| BUCKLEY, Elizabeth Mary | Director | 2024-04-01 | Aug 1968 | Irish |
| BUNDELL, Craig Peter | Director | 2025-07-04 | Jan 1981 | British |
| CASS, Gillian Barbara | Director | 2024-11-29 | Mar 1976 | British |
| CRONIN, Margot | Director | 2018-09-06 | Aug 1963 | Irish |
| CURRIE, Julie Louise | Director | 2025-10-31 | Mar 1974 | British |
| GREENWOOD, Jonathan Paul | Director | 2025-09-29 | Mar 1968 | British |
| RAMSAY, Caroline Frances, Ms | Director | 2016-07-21 | Dec 1962 | British |
| READER, Gary John Charles | Director | 2025-01-23 | Sep 1963 | British |
Show 37 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MARSH, Claire Catherine | Secretary | 2019-11-25 | 2021-05-04 |
| MITCHELL, Patricia Lynne | Secretary | 2024-11-01 | 2025-07-04 |
| SMITH, Rosemary Anne | Secretary | 2009-09-09 | 2019-11-01 |
| STIVEY, Gail Evelyn | Secretary | 2021-05-04 | 2024-11-01 |
| SHOOSMITHS SECRETARIES LIMITED | Corporate Secretary | 2009-07-20 | 2009-09-09 |
| ANTHONY, Colin James | Director | 2016-07-29 | 2021-05-04 |
| BAUGHAN, Andrew John | Director | 2010-09-09 | 2012-08-31 |
| BEDLOW, Karl Robert Douglas | Director | 2013-03-28 | 2020-03-31 |
| BOISSEAU, Francois-Xavier Bernard | Director | 2016-06-01 | 2018-12-31 |
| BOLE, Peter Douglas | Director | 2009-09-09 | 2016-06-30 |
| BROUGHTON, Stephen William | Director | 2010-07-22 | 2014-06-30 |
| CALLANDER, David Lachlan | Director | 2010-03-18 | 2012-01-24 |
| CARTER, Geoffrey Richard | Director | 2010-05-13 | 2015-10-31 |
| CARTIN, Paul Stephen | Director | 2022-07-01 | 2024-11-01 |
| CHALLAND, Robin | Director | 2019-02-21 | 2021-05-04 |
| CLARKE, Adam James | Director | 2019-02-21 | 2021-05-04 |
| CLARKE, Adam James | Director | 2013-09-25 | 2016-06-01 |
| DUGGAN, Gary John | Director | 2021-08-06 | 2025-02-11 |
| DYSON, Fernley Keith | Director | 2012-01-24 | 2018-12-31 |
| FEARN, Jayne Elizabeth | Director | 2009-07-20 | 2009-09-09 |
| GRAINGE, Stephen | Director | 2010-05-13 | 2022-06-30 |
| HARVEY, Julian Robert Mark | Director | 2010-03-18 | 2013-03-31 |
| HENDERSON, Richard John | Director | 2020-04-01 | 2021-05-04 |
| HOLLIDAY, Timothy Victor | Director | 2016-07-21 | 2018-07-19 |
| HOPES, Julie | Director | 2010-03-18 | 2012-09-28 |
| HOURICAN, Declan Joseph | Director | 2016-11-14 | 2021-05-04 |
| KINGSHOTT, Stephen Mitchell | Director | 2015-12-11 | 2021-08-05 |
| MACHELL, Simon Christopher John | Director | 2016-01-01 | 2025-05-01 |
| MCCAULEY, Darren John | Director | 2013-07-25 | 2016-05-11 |
| MILLER, Diana Susan | Director | 2011-04-07 | 2016-06-30 |
| PIERCE, Raymond Francis | Director | 2010-07-22 | 2015-12-31 |
| PRICE, Jonathan Stewart | Director | 2019-04-25 | 2021-05-04 |
| SHAH, Niraj Amratlal Devraj | Director | 2016-06-01 | 2018-12-31 |
| THOMAS, Matthew David | Director | 2009-09-09 | 2016-06-01 |
| TOWNSEND, Roger Charles | Director | 2010-12-16 | 2016-06-30 |
| URMSTON, Michael Norris | Director | 2014-08-11 | 2017-08-31 |
| WINLOW, Mark | Director | 2017-12-08 | 2021-05-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tesco Personal Finance Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-02-19 | Active |
| Tesco Personal Finance Plc | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2025-02-19 |
| Ageas (Uk) Limited | Corporate entity | Shares 50–75%, Voting 50–75% | 2016-04-06 | Ceased 2021-07-09 |
Filing timeline
Last 20 of 181 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-18 MA Memorandum articles
- 2026-03-18 RESOLUTIONS Resolution
- 2025-03-06 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-26 | AA | accounts | Accounts with accounts type full | |
| 2026-03-18 | MA | incorporation | Memorandum articles | |
| 2026-03-18 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-17 | SH08 | capital | Capital name of class of shares | |
| 2025-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-11 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-07-11 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-07-11 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | AA | accounts | Accounts with accounts type full | |
| 2025-05-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-06 | RESOLUTIONS | resolution | Resolution | |
| 2025-03-04 | SH08 | capital | Capital name of class of shares | |
| 2025-03-03 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-03-03 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-03-03 | SH01 | capital | Capital allotment shares | |
| 2025-02-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-16 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 3
- Officers appointed
- 4
- 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.