MX UNDERWRITING LIMITED

1. MX UNDERWRITING LIMITED 2021-12-08 → present
2. CLS RISK SOLUTIONS LIMITED 2016-01-31 → 2021-12-08
3. CONVEYANCING RISK SOLUTIONS LIMITED 2009-08-04 → 2016-01-31
4. QUINTEX I.T. LIMITED 2005-08-24 → 2009-08-04

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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have reviewed the financial statements taking into consideration the Company's Net Current Liabilities of "(33,715,000) (2023: Assets £12,127,000) as well as assessing the Company's future viability to continue with its principal activity. In addition, it was deemed appropriate to consider the results and liquidity in the context of the wider group of which the Company is a member. The review included assessing the Group structure, existing financing arrangements and future plans. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of approval of these financial statements. Furthermore, the company has received a letter from the ultimate parent company Specialist Risk Group Topco Ltd, confirming their continued financial support for at least a year after the date the financial statements are approved. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements. On 20th May 2024, the Group signed a definitive agreement to be sold to Warburg Pincus, the global growth investor, and Temasek, the global investor. Completion of the transaction took place on 25th September 2024. As of the date of completion the Group's parent company has put in place Acquisition and Revolving Credit facilities that will ensure the Group will continue to have the funding required for is organic and acquisition growth strategies. Furthermore, the new investors have confirmed to the regulator (FCA) that the business will continue to operate as is with no material change to the group structure expected. The directors are therefore again, satisfied that these financial statements be prepared on a going concern basis.”

Group structure

1. MX UNDERWRITING LIMITED · parent
   1. Capulus Limited 100% · England and Wales
   2. MX Motorsport Limited 75% · England
   3. NW RE Limited 100% · England · specialist MGA that focusses on excess layer facultative reinsurance for property risks
   4. NW (FAC) RI Limited 100% · England
   5. One Claim Limited 100% · United Kingdom · claims administrator based in London
   6. Vivere Holdings Limited 100% · UK · owner-managed specialty underwriting agency based in the UK and solely focused on commercial motor business.
   7. Apricus Topco Limited 100% · Wales

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

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.

• Turnover

  +2.6%

  £8,744,000 → £8,972,000

• Cash

  —

  Not reported

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

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