MOTORS INSURANCE COMPANY LIMITED

1. MOTORS INSURANCE COMPANY LIMITED 1992-10-07 → present
2. GENERAL MOTORS INSURANCE OF EUROPE LIMITED 1992-06-01 → 1992-10-07
3. INTERCEDE 965 LIMITED 1992-01-16 → 1992-06-01

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

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company meets its day-to-day working capital requirements through its cash and cash equivalents balances. After reviewing the Company's forecasts and projections, which cover the 12-month period from the date of signing the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the period to 30 April 2026. These forecasts and projections, taking account of the impact of a severe but plausible scenario, show the Company as remaining reasonably profitable throughout the going concern period and with sufficient capital and liquidity to meet liabilities as they fall due for the period to 30 April 2026. The Company therefore continues to adopt the going concern basis in preparing the financial statements.”

Significant events

• “Reinsurance arrangements with a fellow European automotive warranty insurer were terminated with effect from 31 December 2023, affecting inward reinsured business currently transacted in Europe.”
• “In February 2024, following an FCA review into GAP Insurance in the UK market, multiple insurance firms, including MICL, agreed to temporarily cease sales of GAP Insurance.”

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

2

last 12 months

Officers resigned

2

last 12 months

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

• Gross written premiums

  -4.3%

  £170,957,000 → £163,617,000

• Net earned premiums

  -2.1%

  £82,582,000 → £80,820,000

• Profit before tax

  -51.2%

  £15,443,000 → £7,529,000

• Equity

  -7.3%

  £59,380,000 → £55,027,000

• Claims incurred

  +28.1%

  £45,604,000 → £58,427,000

• Insurance contract liabilities

  +1.5%

  £194,454,000 → £197,449,000

• Investment return

  -8.4%

  £3,308,000 → £3,031,000

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