MUNICH RE CAPITAL LIMITED

1. MUNICH RE CAPITAL LIMITED 2000-10-09 → present
2. ARTEMIS CAPITAL LIMITED 1998-03-23 → 2000-10-09
3. SYNDICATE 457 CAPITAL LIMITED 1996-10-21 → 1998-03-23

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, FRS 103

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial position of the Syndicates and MRCL as disclosed on the balance sheet shows net assets of £522.9m and £489.4m respectively (2023: £392.3m and £402.1m respectively). On the basis of this financial position and the liquidity of its assets, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future which is 12 months from the date these accounts are authorized for issue. The directors continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “Global inflationary pressures, which had eased in 2024, have resurfaced in 2025 amid escalating geopolitical tensions and market instability. The United States' imposition of broad tariffs has triggered significant market volatility, drawing comparisons to previous economic disruptions. This shift has led to increased investor uncertainty and a re-evaluation of economic forecasts.”
• “The 2022 year of account of Syndicate 1840 closed on 1 January 2025, transferring all assets and liabilities to Syndicate 457 through a third-party reinsurance to close arrangement. Syndicate 1840 has no successor year of account.”

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

Filings

5

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Gross written premiums

  +13.1%

  £1,213,916,000 → £1,373,217,000

• Net earned premiums

  +10.2%

  £987,009,000 → £1,088,121,000

• Profit before tax

  +2.3%

  £176,749,000 → £180,813,000

• Equity

  +21.7%

  £402,095,000 → £489,394,000

• Claims incurred

  +36.9%

  £499,933,000 → £684,342,000

• Insurance contract liabilities

  +19.6%

  £1,912,301,000 → £2,286,563,000

• Investment return

  +3.2%

  £47,986,000 → £49,540,000

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