THE LONDON STEAM-SHIP OWNERS' MUTUAL INSURANCE ASSOCIATION LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. THE LONDON STEAM-SHIP OWNERS' MUTUAL INSURANCE ASSOCIATION LIMITED 2026-04-30 → present
2. LONDON STEAM SHIP OWNERS' MUTUAL INSURANCE ASSOCIATION LIMITED 1876-02-19 → 2026-04-30

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. 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

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Board has a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future, and for at least 12 months from the date when these financial statements were approved and signed. Accordingly, the Board considers it appropriate to adopt the going concern basis of accounting in preparing these financial statements.”

Group structure

1. THE LONDON STEAM-SHIP OWNERS' MUTUAL INSURANCE ASSOCIATION LIMITED · parent
   1. Hydra Insurance Company Limited - London Cell · Bermuda · Reinsurance
   2. The London Steam-Ship Owners' Mutual Insurance Association (Bermuda) Limited · Bermuda · Reinsurance
   3. The London P&I Insurance Company (Europe) Limited · Cyprus · Insurance
   4. London & Bermuda Reinsurance Company Limited · Bermuda · Dormant

Significant events

• “In November 2024, James Bean took over as CEO from Ian Gooch who stepped down after 15 years at the helm.”
• “During 2024, Medelin Dini joined the Members' Committee, and Chris Lambe followed the resignation of John Anagnostopoulos.”
• “In April 2025, John Raggio retired from the Board after 23 years of service.”
• “The Association will be opening an office later this year in the Pudong District in Shanghai, a further sign of continuing commitment to business in Asia and the Greater China region.”
• “In October 2024, the Board and Members' Committee meetings were held in Athens, the first overseas meeting since the pandemic.”
• “The London P&I Club were part of the 30th anniversary celebration of VINARE in Vietnam in October 2024.”
• “Maritime casualties experienced a notable increase in major loss activity impacting the Pool in 2024/25, including the Dali allision with the Francis Scott Key Bridge in Baltimore in March 2024.”
• “The London P&I Club celebrated the success of X-Press Feeders in August 2024 as they launched Eco Maestro, the world's first newbuild dual-fuel methanol-powered vessel.”
• “In June 2024, members of the Piraeus Office took part in a 5 km charity run during Posidonia, raising funds for the Public Benefit Municipal Corporation of Piraeus.”
• “The London P&I Club welcomed more than 45 students from the University of Piraeus to educate them about the important role of P&I clubs in the maritime industry.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

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

• Turnover

  +12%

  £105,728,688 → £118,430,689

• Cash

  +20.9%

  £42,982,950 → £51,962,936

• Net assets

  +14.2%

  £111,070,423 → £126,896,219

• Employees

  —

  Not reported

• Operating profit

  -39.7%

  £27,557,450 → £16,619,718

• Profit before tax

  -39.7%

  £27,557,450 → £16,618,977

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