OPTIO UNDERWRITING LTD
Get an alert when OPTIO UNDERWRITING LTD files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-04-16 (in 11mo)
Last made up 2026-04-02
Watchouts
None on the register
Cash
£13M
+3.1% vs 2023
Net assets
£10M
+491.6% vs 2023
Employees
8
-20% vs 2023
Profit before tax
£8M
+343.2% vs 2023
Name history
Renamed 2 times since incorporation
- OPTIO UNDERWRITING LTD 2020-04-28 → present
- COVE PROGRAM UNDERWRITING LTD. 2015-12-16 → 2020-04-28
- COVE PROGRAM UW LIMITED 2015-04-02 → 2015-12-16
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £13,831,579 | £17,782,642 | |
| Operating profit | £1,603,651 | £7,623,148 | |
| Profit before tax | £1,819,957 | £8,065,880 | |
| Net profit | £1,819,957 | £8,065,880 | |
| Cash | £12,351,520 | £12,729,313 | |
| Total assets less current liabilities | £1,640,654 | £9,706,534 | |
| Net assets | £1,640,654 | £9,706,534 | |
| Equity | £1,640,654 | £9,706,534 | |
| Average employees | 10 | 8 | |
| Wages | — | — |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 11.6% | 42.9% | |
| Net margin | 13.2% | 45.4% | |
| Return on capital employed | 97.7% | 78.5% | |
| Gearing (liabilities / total assets) | 92.3% | 67.9% | |
| Current ratio | 1.03x | 1.46x |
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
- PKF Littlejohn LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- OPTIO UNDERWRITING LTD · parent
- Optio Re MENA Ltd 100%
Significant events
- “The ongoing geopolitical instability and challenging macro economic environment have had a significant impact on global insurance markets and has materially impacted some of the product classes in which the Company operates. The global political unrest continues to provide growth opportunities in our Marine War business, as a result of an increase in the rates to insure vessels entering certain waters while our Merger and Acquisition and Sub Contractor Default businesses have faced headwinds caused by the macro economic environment. That said, the Company successfully navigated these external forces and produced a result that is ahead of our prior year. The actions we have taken to address the market conditions that we operate within leave us in a very strong position to take advantage of opportunities as the market improves.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CALLIDUS SECRETARIES LIMITED | Corporate Secretary | 2024-07-01 | — | — |
| DAVENPORT, Insiyah | Director | 2024-11-21 | Nov 1975 | British |
| FOSH, Matthew Kailey | Director | 2022-08-01 | Sep 1957 | British |
| HEAD, Gary John | Director | 2025-03-03 | Jun 1967 | British |
| MUGGE, Mark Stephen | Director | 2023-11-10 | Oct 1969 | British |
| SONI, Deepak | Director | 2024-10-28 | Jun 1980 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ANAND, Udaiveer | Director | 2020-10-19 | 2023-05-31 |
| BAILEY, Angus Hugh Grenfell | Director | 2023-09-29 | 2024-03-18 |
| CLEARY, Kevin Francis | Director | 2019-08-30 | 2024-07-03 |
| GRAHAM, Andrew Stuart | Director | 2023-01-16 | 2025-01-30 |
| GREAVES, Hannah Jean | Director | 2022-10-28 | 2025-01-30 |
| HARDEN, Robert John | Director | 2019-09-10 | 2020-10-19 |
| HASTINGS, Kevin Maurice | Director | 2015-04-02 | 2021-03-01 |
| JANSEN, Paul Mark | Director | 2015-04-02 | 2022-06-30 |
| MAWSON, John Peter Michael | Director | 2015-04-02 | 2022-06-30 |
| MISTRY, Manesh Hasmukh | Director | 2019-09-10 | 2021-10-15 |
| ROBINSON, David Peter | Director | 2022-04-29 | 2024-04-15 |
| UMBERS, David Michael Robert | Director | 2019-09-17 | 2020-10-19 |
| WESTERN, Paul David | Director | 2019-10-07 | 2022-02-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Optio Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-11-15 | Active |
| Cove Program Managers Ltd | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2021-11-15 |
Filing timeline
Last 20 of 100 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-09 | CH01 | officers | Change person director company with change date | |
| 2025-09-11 | AA | accounts | Accounts with accounts type full | |
| 2025-04-04 | CH01 | officers | Change person director company with change date | |
| 2025-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-12 | CH01 | officers | Change person director company with change date | |
| 2025-02-03 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-18 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-10-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-13 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2024-07-25 | AA | accounts | Accounts with accounts type full | |
| 2024-07-16 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-23 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- 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 2024-12-31 vs 2023-12-31
-
Turnover
+28.6%
£13,831,579 £17,782,642
-
Cash
+3.1%
£12,351,520 £12,729,313
-
Net assets
+491.6%
£1,640,654 £9,706,534
-
Employees
-20%
10 8
-
Operating profit
+375.4%
£1,603,651 £7,623,148
-
Profit before tax
+343.2%
£1,819,957 £8,065,880
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