NEPHILA CORPORATE MEMBER (NO. 2) LTD

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -34.9%

  £29,443,821 → £19,170,965

• Cash

  +37%

  £12,657,547 → £17,341,706

  highest in 4 filed years

• Net assets

  +97.1%

  £182,403 → £359,572

  highest in 4 filed years

• Employees

  —

  Not reported

• Operating profit

  +35.4%

  £232,489 → £314,719

• Profit before tax

  +10.9%

  £213,052 → £236,226

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

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.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In assessing going concern for the Company, the Directors reviewed the budgets and forecasts as well as the available sources of capital and the uses of that capital and associated cash flow for the Syndicate. After making enquiries, the directors have a reasonable expectation that continued capital support, in the form of off-balance sheet Funds at Lloyd's ('FAL'), will be in place such that the company will continue to participate on Syndicate 2358 and will therefore continue to write new business in future underwriting years of account. The Syndicate is expecting to submit and receive approval of its Syndicate Business Forecast from Lloyd's for the 2026 year of account during 2025. The directors are therefore satisfied that the company has adequate resources to continue in operational existence for at least twelve months from the date of signing the accounts. For this reason the directors continue to adopt the going concern basis in preparing the accounts.”

Significant events

• “Gross written premiums decreased by $13.7m (34.9%) as a consequence of the Company reducing its participation from $37.1m on the 2023 YOA of the Syndicate to $15.0m on the 2024 YOA. Gross written premium is expected to increase in 2025 as a result of the Company increasing its participation on the Syndicate to $52.5m.”
• “The increase in the combined ratio from 2023 of 1.5% is driven by the increased claims ratio, 61.7% in 2024 compared to 60.0% in 2023, predominantly due to claims arising on the Satellites class.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.