U K INSURANCE BUSINESS SOLUTIONS LIMITED

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  Material uncertainty over going concern

  On 23 December 2024, the Boards of DLIG and Aviva reached an agreement pursuant to which Aviva agreed to purchase the entire share capital of DLIG, subject to regulatory approval. Although the Directors cannot be certain about the actions of Aviva should a deal complete, they consider that the ability of the Company to continue as a going concern should not be adversely affected by the transaction should it proceed. In making this assessment, they have considered many factors, including the strategic fit of Aviva for DLIG as well as Aviva's record of executing transactions, including integrating a number of acquisitions, and of delivering profitable growth. While the Directors would expect Aviva to continue to deliver long term value from the Company's ongoing operations they note however, that it is beyond their control as to whether Aviva would undertake any restructuring of the Group's legal entities. Therefore, given the potential change in control, the Directors consider these conditions to constitute a material uncertainty (as defined under IAS 1) which may cast significant doubt over the Company's ability to continue as a going concern. The Directors would not expect this to impact the continued operation of the Company's core activities.

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  4 officer resignations in last 12 months

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

1. U K INSURANCE BUSINESS SOLUTIONS LIMITED 2012-09-10 → present
2. RBS BUSINESS INSURANCE SERVICES LIMITED 2005-06-30 → 2012-09-10
3. RBS INSURANCE BROKERS LIMITED 2004-08-03 → 2005-06-30

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“On 23 December 2024, the Boards of DLIG and Aviva reached an agreement pursuant to which Aviva agreed to purchase the entire share capital of DLIG, subject to regulatory approval. Although the Directors cannot be certain about the actions of Aviva should a deal complete, they consider that the ability of the Company to continue as a going concern should not be adversely affected by the transaction should it proceed. In making this assessment, they have considered many factors, including the strategic fit of Aviva for DLIG as well as Aviva's record of executing transactions, including integrating a number of acquisitions, and of delivering profitable growth. While the Directors would expect Aviva to continue to deliver long term value from the Company's ongoing operations they note however, that it is beyond their control as to whether Aviva would undertake any restructuring of the Group's legal entities. Therefore, given the potential change in control, the Directors consider these conditions to constitute a material uncertainty (as defined under IAS 1) which may cast significant doubt over the Company's ability to continue as a going concern. The Directors would not expect this to impact the continued operation of the Company's core activities.”

Significant events

• “As announced on 23 December 2024, the Boards of DLIG, the Company's parent, and Aviva plc ("Aviva") reached agreement on the terms of a recommended cash and share offer for DLIG. The transaction values each DLIG share at 275 pence and values the entire diluted share capital of the Group at approximately £3.7 billion. The transaction is subject to regulatory approvals from the Prudential Regulation Authority and the FCA as well as review by the Competition and Markets Authority. DLIG shareholders voted in favour of the acquisition on 10 March and the transaction, subject to regulatory clearances, is expected to become effective mid-2025.”

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

Filings

14

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

4

last 12 months

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