F.M. INSURANCE COMPANY LIMITED

• ⚠

  Material uncertainty over going concern

  The directors have concluded that the Company is no longer a going concern and have prepared the financial statements on a basis other than going concern. The basis of preparation reflects the directors' intention to liquidate the Company following the Part VII transfer and the withdrawal of the insurance licence. The financial statements have been adjusted accordingly to reflect this decision.

• ◆

  3 officer resignations in last 12 months

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

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

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors have concluded that the Company is no longer a going concern and have prepared the financial statements on a basis other than going concern. The basis of preparation reflects the directors' intention to liquidate the Company following the Part VII transfer and the withdrawal of the insurance licence. The financial statements have been adjusted accordingly to reflect this decision.”

Group structure

1. F.M. INSURANCE COMPANY LIMITED · parent
   1. FM Engineering International Limited 100% · UK · Engineering Services

Significant events

• “As part of an internal group reorganisation the Company transferred its UK insurance business to a newly established UK branch of FM Insurance Europe S.A. ("FMIE"), a Luxembourg subsidiary of FMIC, pursuant to an insurance business transfer under Part VII of the UK Financial Services Markets Act 2000 ("FSMA") (the "Part VII transfer"). The business transfer was sanctioned by the High Court of England and Wales on 20 November 2024 and executed on 30 November 2024.”
• “Following an application made by the Company for cancellation of its permission under Part 4A of the FSMA to write insurance, the insurance licence of the Company was withdrawn by the PRA and FCA with effect from 28 January 2025.”
• “Following the Part VII transfer and the withdrawal of the insurance licence the directors' intention is to liquidate the Company.”
• “The directors approved an interim dividend of £984,399,000 on 6 December 2024.”
• “In support of the interim dividend the Company passed a resolution on 4 December 2024 to reduce the nominal value of each ordinary share from £1 each to £0.01132957746 each and increase distributable reserves.”

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

Filings

6

last 12 months

Capital events

2

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

  -11.6%

  £208,035,000 → £183,911,000

• Cash

  -91.4%

  £70,805,000 → £6,093,000

• Net assets

  -99.4%

  £843,348,000 → £5,212,000

• Employees

  +4%

  247 → 257

• Operating profit

  +685.5%

  -£2,782,000 → £16,290,000

• Profit before tax

  +66%

  £91,003,000 → £151,026,000

• Wages

  -1.1%

  £26,187,000 → £25,886,000

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