DUAL INTERNATIONAL LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-09-30
Confirmation statement due
2027-03-15 (in 10mo)
Last made up 2026-03-01
Watchouts
None on the register
Cash
£14M
+27.2% vs 2023
Net assets
£114M
+33.1% vs 2023
Employees
139
+20.9% vs 2023
Profit before tax
-£36M
-47,093.4% vs 2023
Name history
Renamed 2 times since incorporation
- DUAL INTERNATIONAL LIMITED 1999-10-11 → present
- B.P. MARSH IBERICA LIMITED 1998-07-06 → 1999-10-11
- LAW 967 LIMITED 1998-04-03 → 1998-07-06
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Turnover | £37,621,000 | £50,100,000 | |
| Operating profit | -£31,042,000 | -£43,862,000 | |
| Profit before tax | -£76,000 | -£35,867,000 | |
| Net profit | £9,520,000 | -£21,886,000 | |
| Cash | £11,344,000 | £14,426,000 | |
| Total assets less current liabilities | £462,625,000 | £464,467,000 | |
| Net assets | £85,472,000 | £113,802,000 | |
| Equity | £85,472,000 | £113,802,000 | |
| Average employees | 115 | 139 | |
| Wages | £16,433,000 | £19,155,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Operating margin | -82.5% | -87.5% | |
| Net margin | 25.3% | -43.7% | |
| Return on capital employed | -6.7% | -9.4% | |
| Current ratio | 1.14x | 1.45x | |
| Interest cover | -1.53x | -2.01x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Company has sufficient cash and working capital to meet all financial obligations for at least twelve months from 31 December 2024. Howden Group Holdings Limited, the ultimate parent company, has provided a letter of support to the Company to assist in meeting liabilities as they as the fall due until 31 December 2026.”
Group structure
- DUAL INTERNATIONAL LIMITED · parent
- DUAL Asset Underwriting Limited 100%
- DUAL Australia Pty Limited 100%
- DUAL Commercial (Canada) Inc. 100%
- DUAL Corporate Risks Limited 100%
- DUAL North America Inc. 100%
- Dale DUAL MGU Limited 65%
- DUAL Brasil Services Ltda 99%
- DUAL Underwriting Agency (Hong Kong) Limited 100%
- DUAL Underwriting Agency (Singapore) Pte. Limited 100%
- ReThink Underwriting Limited 100%
- Dock Re, Intermediario de Reaseguro, S.A. de C.V. 100%
- Tamesis DUAL Limited 75%
- David Ashby Underwriting Limited 100%
- KGM Underwriting Services Limited 100%
- DUAL Jersey Limited 100%
- Spring Partners (Holdings) Limited 51%
- Inet3 Limited 100%
- DUAL Europe Holdings S.a r.l 100%
- Tamesis DUAL Europe GmbH 100%
- DUAL Austria GmbH 80%
- DUAL Commercial LLC 100%
- DUAL Deutschland GmbH 100%
- DUAL Europe GmbH 100%
- DUAL Finland OY 100%
- DUAL Iberica Riesgos Profesionales S.A.U. 100%
- DUAL Italia S.p.A 100%
- DUAL New Zealand Limited 100%
- DUAL Swiss GmbH 100%
- DUAL Underwriting Ireland DAC 100%
- Energy, Industrial & Utility Risk Solutions LLC 75.1%
- Tamesis DUAL Americas LLC 75%
- Align Claims Services, Inc. 100%
- Align General Insurance Agency, LLC 100%
- Catalytic Claims Services, Inc. 100%
- Catalytic Risk Managers & Insurance Agency, LLC 100%
- Deposit Choice, LLC 100%
- NALICO General Agency, Inc. 100%
- NationsBuilders Insurance Services, Inc. 100%
- NBIS Construction & Transport Insurance Services, Inc. 100%
- Galileo Insurance Services LLC 100%
- Eridge Underwriting Agency Ltd 100%
- Spring Insure Limited 51%
- Spring Insure Europe Limited 51%
- Spring Insure Guernsey Limited 51%
- Bloodstock Insurance Australia (Pty) Ltd 50%
- Rosetta Risk Management Limited 37.5%
Significant events
- “Subsequent to the year end, the Company has subscribed for additional share capital of £7,000,000 in its subsidiary Rethink Underwriting Limited to provide funding for its runoff.”
- “On 3 December 2024, the Company completed the acquisition of 100% of the share capital of International Passenger Protection Limited ('IPP') for cash consideration of £14,355,000.”
- “On 30 August 2024, the Company agreed to purchase 100% of the share capital of International Passenger Protection Limited for an initial consideration based upon 70% x (an initial Enterprise Value of approximately £21,800,000 plus/minus net cash/debt and other adjustments relating to working capital at completion), subject to regulatory approval.”
- “During the year, the Company acquired 37.5% of the share capital of Rosetta Risk Management Limited for cash consideration of £660,000.”
- “DUAL Underwriting Limited was dissolved on 18 March 2024.”
- “DUAL International Underwriting Limited was dissolved on 18 March 2024.”
- “DUAL Re America LLC was dissolved on 30 August 2024.”
- “DUAL Speciality Flood LLC was dissolved on 30 August 2024.”
- “Enspire Insurance Services Inc was dissolved on 30 August 2024.”
- “DUAL Speciality Underwriting LLC was dissolved on 23 September 2024.”
- “Chelsea Risk Management & Insurance Services Inc was dissolved on 23 September 2024.”
- “Align Financial Holdings LLC was dissolved on 30 September 2024.”
- “HVR Hamburger Vermögensshaden-Haftpflicht Risikomanagement GmbH merged into DUAL Deutschland GmbH on 25 April 2024. The merger was retroactive to 1 October 2023.”
- “On 5 June 2024 and 6 June 2024, equity ownership of the following subsidiaries (which are all 100% owned) transferred from the Company to DUAL Europe Holdings S.a.r.l at the book value of investment held by the Company: DUAL Finland OY, DUAL Underwriting Ireland DAC, DUAL Deutschland GmbH.”
- “On 20 June 2024, the Company purchased 115 SIL Class shares and 55 SE Class shares in Spring Partners Holdings Limited for consideration of £246,000 settled by cancelling the loans due from the shareholders. These shares had an economic interest of 0.01%.”
- “In September 2024, the carrying value of the investment in ReThink Underwriting Limited of £6,958,000 was fully impaired following a decision to discontinue the business.”
- “On 25 July 2024 and 30 September 2024, equity ownership of the following subsidiaries (which are all 100% owned) transferred from the Company to DUAL Europe Holdings S.a.r.l. at the book value of investment held by the Company.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 48 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SAUNDERS, Aisling Katherine | Secretary | 2024-11-21 | — | — |
| CLAPHAM, Richard Malcolm | Director | 2016-11-02 | Mar 1964 | British |
| GOODHEW, Heather Margaret | Director | 2019-10-01 | Apr 1960 | British |
| HUDSON, Mark Andrew | Director | 2016-11-02 | Dec 1967 | British |
| IBESON, David Christopher Ben | Director | 2016-07-20 | Nov 1965 | British |
| SNEDDEN, Ralph Cameron | Director | 2016-07-20 | Dec 1947 | British |
| SWEENEY, Kieran Anthony, Mr. | Director | 2021-10-01 | Dec 1966 | British |
Show 48 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GRIFFIN, Steven Terence Hunter | Secretary | 2021-02-04 | 2024-09-30 |
| MASSIE, Amanda Jane Emilia | Secretary | 2014-05-01 | 2015-05-01 |
| MOORE, Andrew John | Secretary | 2015-04-29 | 2024-09-30 |
| PALLOT, Hugh Glen | Secretary | 2007-01-24 | 2014-04-30 |
| PIGRAM, Ivor | Secretary | 1998-06-22 | 2007-01-24 |
| SNOOKS, Emma Louise | Secretary | 2014-05-01 | 2018-08-08 |
| TJG SECRETARIES LIMITED | Corporate Secretary | 1998-04-03 | 1998-06-22 |
| BAINS, Talbir Singh | Director | 2015-04-14 | 2016-12-31 |
| BECKHAM, Jonathan Frederick | Director | 2018-01-01 | 2019-12-11 |
| BEVERIDGE, Hazel Etta | Director | 2013-10-03 | 2015-07-22 |
| BOOTH, Clement Burns | Director | 2015-10-12 | 2018-10-01 |
| CABLE ALEXANDER, Louise Fennella | Director | 1999-09-30 | 2005-12-31 |
| CAMERON, Angus Kenneth | Director | 2016-05-05 | 2016-10-14 |
| COATES, Damien Peter | Director | 2016-11-02 | 2019-12-11 |
| COATES, Damien Peter | Director | 2008-05-21 | 2015-07-22 |
| COATES, Damien Peter | Director | 2004-02-10 | 2005-12-31 |
| CROWTHER, Stephen Joseph | Director | 1998-06-22 | 2009-07-20 |
| DENNISTON, Nicholas Geoffrey Alastair | Director | 2006-05-16 | 2007-08-13 |
| DOHERTY, Darren Peter | Director | 2018-10-01 | 2023-04-01 |
| DOYLE, Shane Peter | Director | 2012-07-30 | 2015-11-10 |
| ELLIOTT, Graham Andrew | Director | 2015-04-29 | 2015-07-21 |
| ELSTON, Andrew Henry | Director | 2014-06-24 | 2015-12-31 |
| FADY, Eric Rene Marcel | Director | 2012-07-30 | 2015-05-01 |
| FARMER, Paul Robert | Director | 1998-07-17 | 2002-05-14 |
| FERRIS, Paul Andrew | Director | 2016-05-05 | 2019-12-11 |
| FERRIS, Paul Andrew | Director | 2007-01-02 | 2015-07-22 |
| GERRY, James Thomas | Director | 2003-10-30 | 2007-09-13 |
| GIESON, Robert Thomas Van | Director | 2009-07-22 | 2012-04-27 |
| GRANT, Alan Ernest | Director | 2013-05-23 | 2016-07-06 |
| HILDER, Ian Martin | Director | 2018-01-24 | 2019-12-11 |
| HOWDEN, David Philip | Director | 1999-09-30 | 2015-05-01 |
| KILPATRICK, Russell William Neil | Director | 2007-04-17 | 2015-04-29 |
| KILPATRICK, Russell William Neil | Director | 2003-04-29 | 2005-12-31 |
| MANNING, Stephen Trevor | Director | 2016-11-02 | 2018-12-31 |
| MIRO, Horacio Hector | Director | 2001-10-25 | 2004-11-04 |
| MUNOZ-ROJAS ENTRECANALES, Luis | Director | 1999-09-30 | 1999-09-30 |
| MUNOZ-ROJAS ENTRECANALES, Luis | Director | 1999-09-30 | 2022-05-24 |
| PATEL, Rinku | Director | 2009-08-10 | 2014-01-31 |
| PRATT, Gordon Robert | Director | 2007-01-01 | 2009-02-25 |
| SMITH, Alan | Director | 2002-06-24 | 2004-03-31 |
| TELFORD, Alan David | Director | 2020-12-09 | 2024-07-31 |
| TOLLA, Paolo | Director | 2000-05-19 | 2003-07-02 |
| TWEEDIE, Justin Anthony | Director | 2016-11-02 | 2018-01-01 |
| TWEEDIE, Justin Anthony | Director | 2014-01-20 | 2015-07-22 |
| WATSON, Angus James | Director | 2016-05-05 | 2016-09-30 |
| WILLIAMS, Diahann | Director | 2020-11-04 | 2023-12-21 |
| HUNTSMOOR LIMITED | Corporate Nominee Director | 1998-04-03 | 1998-06-22 |
| HUNTSMOOR NOMINEES LIMITED | Corporate Nominee Director | 1998-04-03 | 1998-06-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hgh Midco 3 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-01-25 | Active |
| Howden Group Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-06-06 | Ceased 2022-01-25 |
Filing timeline
Last 20 of 317 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-01-29 | SH01 | capital | Capital allotment shares | |
| 2026-01-09 | CH03 | officers | Change person secretary company with change date | |
| 2025-09-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-19 | AA01 | accounts | Change account reference date company current extended | |
| 2025-07-01 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-07-01 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-01-08 | AA | accounts | Accounts with accounts type full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-21 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-10-22 | SH01 | capital | Capital allotment shares | |
| 2024-10-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-10-01 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 2
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-09-30 vs 2023-09-30
-
Turnover
+33.2%
£37,621,000 £50,100,000
-
Cash
+27.2%
£11,344,000 £14,426,000
-
Net assets
+33.1%
£85,472,000 £113,802,000
-
Employees
+20.9%
115 139
-
Operating profit
-41.3%
-£31,042,000 -£43,862,000
-
Profit before tax
-47,093.4%
-£76,000 -£35,867,000
-
Wages
+16.6%
£16,433,000 £19,155,000
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