THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED

1. THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED 2021-02-18 → present
2. THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION (EUROPE) LIMITED 2007-01-30 → 2021-02-18
3. SUNDERLAND STEAMSHIP PROTECTING AND INDEMNITY ASSOCIATION 1886-02-18 → 2007-01-30

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 Group has a total accumulated surplus as at 20 February 2025 of $494 million (2024: $483 million) and as a mutual organisation has the facility to raise additional capital via additional calls from its Members for open policy years, should they be required. The Directors consider that the Group's Financial Statements should be prepared on a going concern basis.”

Group structure

1. THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION LIMITED · parent
   1. UK P&I Club N.V. 1% · Netherlands · Insurance
   2. The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited 1% · Bermuda · Reinsurance
   3. Hydra Insurance Company Limited 1% · Bermuda · Reinsurance
   4. The United Kingdom Mutual Steam Ship Assurance Association (London) Limited · United Kingdom · Dormant
   5. International P&I Reinsurance Company Limited 1% · Isle of Man · Not trading

Significant events

• “The Club has experienced one of its most expensive policy years on record in 2024. ...container ship Dali collided with a harbour bridge in Baltimore in March 2024. Although the Dali was entered with another P&I Club, the UK Club will contribute as much as $22 million to the claim through the International Group pooling mechanism.”
• “For a few days in March 2024 shipping hit the mainstream media for all the wrong reasons after the Francis Scott Key bridge in Baltimore collapsed having been hit by the containership MV Dali. ...one of which featured a specialist heavy lift ship becoming a wreck off Taiwan resulting in a claim on the Pool.”
• “One subject newly considered by MEMCO was that of insurance for nuclear propelled vessels, prompted by the sharp increase in 2024 in conferences devoted to civilian nuclear shipping.”
• “During the reporting period, two of the largest companies in that arrangement established their own EEA presence and have largely withdrawn from those fronting arrangements and transferred UKNV's relevant assets and liabilities to these new entities.”

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

1

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.

• Turnover

  -0.8%

  £397,472,943 → £394,172,721

• Cash

  -55.6%

  £273,415,864 → £121,379,540

• Net assets

  +2.3%

  £358,383,988 → £366,495,182

• Employees

  0%

  1 → 1

• Profit before tax

  -77.2%

  £39,473,684 → £8,980,726

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