Talbot Underwriting Services Ltd
Other business support service activities n.e.c. · London
ActiveUnited KingdomIncorporated 1995Private Limited Company
Financial position
Accounts to 2025-12-31 · GBP · Company accounts
Net assets
£18,656,000
Cash
£27,450,000
Turnover
£96,056,000
Profit / loss
£2,064,000
Current assets
£56,662,000
Creditors < 1 year
£38,368,000
Equity
£18,656,000
Average employees
315
Balance-sheet trend
GBP · companyFinancial statements
Selected figures from the best-ranked available filing for each period. Missing values remain unknown.
Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts
| Reported figures | 2025-12-3112 months · Company · AI-read | 2024-12-31Company · AI-read |
|---|---|---|
| Balance sheet | ||
| Net assets | £18,656,000 | £18,344,000 |
| Equity | £18,656,000 | £18,344,000 |
| Retained earnings | £18,656,000 | £18,344,000 |
| Assets | ||
| Fixed assets | £362,000 | £565,000 |
| Property, plant & equipment | £362,000 | £565,000 |
| Current assets | £56,662,000 | £55,751,000 |
| Cash at bank | £27,450,000 | £20,014,000 |
| Debtors | £27,792,000 | £33,809,000 |
| Liabilities | ||
| Creditors within one year | £38,368,000 | £37,972,000 |
| Net current assets | £18,294,000 | £17,779,000 |
| Assets less current liabilities | £18,656,000 | £18,344,000 |
| Profit & loss | ||
| Turnover | £96,056,000 | £98,159,000 |
| Administrative expenses | £93,732,000 | £95,069,000 |
| Operating profit | £2,324,000 | £3,090,000 |
| Interest receivable | £428,000 | £589,000 |
| Profit before tax | £2,752,000 | £3,679,000 |
| Tax | £688,000 | £384,000 |
| Profit / loss | £2,064,000 | £3,295,000 |
| Operating costs | ||
| Depreciation | £203,000 | £319,000 |
| Operating lease charges | £960,000 | £1,356,000 |
| Audit fees | £56,000 | £54,000 |
| People & pay | ||
| Average employees | 315 | 325 |
| Staff costs | £55,233,000 | £59,390,000 |
| Wages & salaries | £30,569,000 | £30,814,000 |
| Social security costs | £6,333,000 | £6,477,000 |
| Pension costs | £4,089,000 | £4,100,000 |
| Directors' remuneration | £2,741,000 | £2,470,000 |
| Highest paid director | £824,000 | £1,154,000 |
| Source evidence | View filing | View filing |
From the accounts
What the accounts for 2025-12-31 say about themselves, read by AI from the scanned filing.
- Principal activity
- The principal activity of the Company is to act as an administrative service company for the Talbot group of companies, Talbot Underwriting Ltd (TUL) and its managed Syndicates.
- What it does
- administrative services · insurance syndicates · management services · underwriting support (AI keywords)
- The year
- The principal source of revenue for the Company is the recharge of costs incurred on behalf of Syndicate 1183 and Syndicate 2019 ("the Syndicates"), and other group companies. The Company’s profit for the financial year is £2,064k (2024: £3,295k profit).
- Auditor
- PricewaterhouseCoopers LLP · senior statutory auditor William Lewis
- Audit opinion
- Clean (unmodified)
- Immediate parent
- Talbot Underwriting Holdings Ltd · England
- Ultimate parent
- American International Group, Inc (AIG) · United States
- Ultimate controlling party
- American International Group, Inc (AIG)
- Accounts
- Full accounts · FRS 102
- Approved
- 2026-07-02, signed by Richard Cowling
Turnover by segment (1)
- United Kingdom: All income is wholly derived in the United Kingdom (2025-12-31)
Directors' report (1)
- RD Cowling
Share classes (1)
- 1 Ordinary Shares of £1.00 of £1.00
Principal risks (5)
- credit risk
- liquidity risk
- currency risk
- operational risk
- climate change risk
Contingent liabilities (1)
- The ultimate parent company, AIG, offers a share-based payment scheme whereby share-based awards are given to selected employees and Directors of TUSL. These are granted by AIG and the shares will vest equally over three years, after which recipients still employed by AIG are entitled to receive their shares. As the Company itself is not party to these awards and has no obligation to discharge the share-based payment awards as they vest, they are classified as equity-settled share-based payments in the financial statements of TUSL. There is no liability during the vesting period as there is no certainty that settlement will occur. The obligation only crystallises at the vesting date when the conditions have been satisfied. For this reason, this is disclosed as a contingent liability.
Secured borrowing
Registered charges, lenders and security interests.
Charges and related records
0 outstanding chargesNo charges available in our records.