qbe underwriting limited

qbe underwriting limited Company Information

Share QBE UNDERWRITING LIMITED
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Company Number

01035198

Industry

Non-life insurance

 

Shareholders

qbe holdings (eo) ltd

Group Structure

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Contact

Registered Address

30 fenchurch street, london, EC3M 3BD

qbe underwriting limited Estimated Valuation

£19.4m

Pomanda estimates the enterprise value of QBE UNDERWRITING LIMITED at £19.4m based on a Turnover of £21m and 0.92x industry multiple (adjusted for size and gross margin).

qbe underwriting limited Estimated Valuation

£177.4m

Pomanda estimates the enterprise value of QBE UNDERWRITING LIMITED at £177.4m based on an EBITDA of £14.4m and a 12.29x industry multiple (adjusted for size and gross margin).

qbe underwriting limited Estimated Valuation

£29.8m

Pomanda estimates the enterprise value of QBE UNDERWRITING LIMITED at £29.8m based on Net Assets of £17.5m and 1.7x industry multiple (adjusted for liquidity).

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Qbe Underwriting Limited Overview

Qbe Underwriting Limited is a live company located in london, EC3M 3BD with a Companies House number of 01035198. It operates in the non-life insurance sector, SIC Code 65120. Founded in December 1971, it's largest shareholder is qbe holdings (eo) ltd with a 100% stake. Qbe Underwriting Limited is a mature, large sized company, Pomanda has estimated its turnover at £21m with high growth in recent years.

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Qbe Underwriting Limited Health Check

Pomanda's financial health check has awarded Qbe Underwriting Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 1 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating4.5out of 5
positive_score

5 Strong

positive_score

2 Regular

positive_score

1 Weak

size

Size

annual sales of £21m, make it larger than the average company (£2.1m)

£21m - Qbe Underwriting Limited

£2.1m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of 28%, show it is growing at a faster rate (8.7%)

28% - Qbe Underwriting Limited

8.7% - Industry AVG

production

Production

with a gross margin of 100%, this company has a comparable cost of product (100%)

100% - Qbe Underwriting Limited

100% - Industry AVG

profitability

Profitability

an operating margin of 68.7% make it more profitable than the average company (17.5%)

68.7% - Qbe Underwriting Limited

17.5% - Industry AVG

employees

Employees

with 129 employees, this is above the industry average (26)

129 - Qbe Underwriting Limited

26 - Industry AVG

paystructure

Pay Structure

There is insufficient data available for this Key Performance Indicator!

- - Qbe Underwriting Limited

- - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £163k, this is equally as efficient (£163.5k)

£163k - Qbe Underwriting Limited

£163.5k - Industry AVG

debtordays

Debtor Days

There is insufficient data available for this Key Performance Indicator!

- - Qbe Underwriting Limited

- - Industry AVG

creditordays

Creditor Days

There is insufficient data available for this Key Performance Indicator!

- - Qbe Underwriting Limited

- - Industry AVG

stockdays

Stock Days

There is insufficient data available for this Key Performance Indicator!

- - Qbe Underwriting Limited

- - Industry AVG

cashbalance

Cash Balance

has cash to cover current liabilities for 5 weeks, this is less cash available to meet short term requirements (18 weeks)

5 weeks - Qbe Underwriting Limited

18 weeks - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 51.1%, this is a lower level of debt than the average (81.5%)

51.1% - Qbe Underwriting Limited

81.5% - Industry AVG

QBE UNDERWRITING LIMITED financials

EXPORTms excel logo

Qbe Underwriting Limited's latest turnover from December 2023 is £21 million and the company has net assets of £17.5 million. According to their latest financial statements, we estimate that Qbe Underwriting Limited has 129 employees and maintains cash reserves of £2.1 million as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover21,030,0006,906,00010,397,00010,070,0005,729,00014,416,00013,539,00010,044,00012,830,00015,559,00012,152,00027,946,00042,098,00045,955,00076,658,000
Other Income Or Grants000000000000000
Cost Of Sales001,225000131,825310,8551,229,6392,674,0692,740,2626,907,00811,113,09513,132,8010
Gross Profit21,030,0006,906,00010,395,77510,070,0005,729,00014,416,00013,407,1759,733,14511,600,36112,884,9319,411,73821,038,99230,984,90532,822,1990
Admin Expenses6,585,9707,294,4908,658,0798,032,0917,028,0696,378,6717,740,5305,644,8116,463,2436,248,4269,273,7385,564,9928,949,9052,350,199-52,468,000
Operating Profit14,444,030-388,4901,737,6962,037,909-1,299,0698,037,3295,666,6454,088,3345,137,1186,636,505138,00015,474,00022,035,00030,472,00052,468,000
Interest Payable00033,00000008,00025,00034,000249,00032,00000
Interest Receivable000039,00013,000006,0006,0007,00011,0007,00057,0009,283
Pre-Tax Profit14,349,000-392,0001,740,0002,038,000-1,598,0007,922,0005,698,0004,093,0005,182,0006,617,000111,00015,236,00022,010,00030,529,00052,546,000
Tax-3,415,00074,000-331,000-387,000303,000-1,399,000-1,098,000-818,000-1,066,000-1,373,000-25,000-2,514,000-953,000-8,549,000-14,711,000
Profit After Tax10,934,000-318,0001,409,0001,651,000-1,295,0006,523,0004,600,0003,275,0004,116,0005,244,00086,00012,722,00021,057,00021,980,00037,835,000
Dividends Paid000008,000,0006,000,0001,900,0003,200,000012,722,00021,057,00022,416,00040,000,00050,000,000
Retained Profit10,934,000-318,0001,409,0001,651,000-1,295,000-1,477,000-1,400,0001,375,000916,0005,244,000-12,636,000-8,335,000-1,359,000-18,020,000-12,165,000
Employee Costs00000002,716,0005,316,0005,741,0009,033,00010,256,0009,399,00010,451,00019,954,000
Number Of Employees1294569673744491106862013203460
EBITDA*14,444,030-388,4901,737,6962,037,909-1,299,0698,037,3295,666,6454,088,3345,137,1186,636,505138,00015,474,00022,035,00030,472,00052,468,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets000000000000002,105,000
Intangible Assets000000000000000
Investments & Other203,000385,000385,000385,000385,000385,000385,000385,000385,000385,000385,000385,000385,000385,0000
Debtors (Due After 1 year)18,910,00014,145,0009,437,0008,170,0000000000432,000332,0002,088,0000
Total Fixed Assets19,113,00014,530,0009,822,0008,555,000385,000385,000385,000385,000385,000385,000385,000817,000717,0002,473,0002,105,000
Stock & work in progress000000000000000
Trade Debtors0000000000000900,0000
Group Debtors0089,000438,000227,000492,000845,0005,998,000906,000282,000457,00087,00030,00000
Misc Debtors14,593,000631,0007,251,00007,533,00016,126,00012,100,00010,888,00013,779,00013,438,00011,019,00026,831,00041,679,00043,619,0000
Cash2,110,0003,019,0001,009,000439,000286,000799,0003,403,0001,544,0002,789,000364,000224,0002,253,000128,0001,667,0003,713,000
misc current assets000000000000000
total current assets16,703,0003,650,0008,349,000877,0008,046,00017,417,00016,348,00018,430,00017,474,00014,084,00011,700,00029,171,00041,837,00046,186,00082,409,000
total assets35,816,00018,180,00018,171,0009,432,0008,431,00017,802,00016,733,00018,815,00017,859,00014,469,00012,085,00029,988,00042,554,00048,659,00084,514,000
Bank overdraft000000000000000
Bank loan000000000000000
Trade Creditors 000000000000000
Group/Directors Accounts14,866,00011,583,00010,795,0003,539,0004,578,00011,227,0009,013,0009,963,00010,153,0007,251,00011,588,00013,146,00015,264,00017,293,0000
other short term finances0000000000000029,419,000
hp & lease commitments000000000000000
other current liabilities3,425,0006,000467,000393,0004,0001,431,0001,099,000831,0001,060,0001,488,00011,0003,720,0005,833,0008,550,0000
total current liabilities18,291,00011,589,00011,262,0003,932,0004,582,00012,658,00010,112,00010,794,00011,213,0008,739,00011,599,00016,866,00021,097,00025,843,00043,678,000
loans000000000000000
hp & lease commitments000000000000000
Accruals and Deferred Income000000000000000
other liabilities000000000000000
provisions000000000000000
total long term liabilities000000000000000
total liabilities18,291,00011,589,00011,262,0003,932,0004,582,00012,658,00010,112,00010,794,00011,213,0008,739,00011,599,00016,866,00021,097,00025,843,00043,678,000
net assets17,525,0006,591,0006,909,0005,500,0003,849,0005,144,0006,621,0008,021,0006,646,0005,730,000486,00013,122,00021,457,00022,816,00040,836,000
total shareholders funds17,525,0006,591,0006,909,0005,500,0003,849,0005,144,0006,621,0008,021,0006,646,0005,730,000486,00013,122,00021,457,00022,816,00040,836,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit14,444,030-388,4901,737,6962,037,909-1,299,0698,037,3295,666,6454,088,3345,137,1186,636,505138,00015,474,00022,035,00030,472,00052,468,000
Depreciation000000000000000
Amortisation000000000000000
Tax-3,415,00074,000-331,000-387,000303,000-1,399,000-1,098,000-818,000-1,066,000-1,373,000-25,000-2,514,000-953,000-8,549,000-14,711,000
Stock000000000000000
Debtors18,727,000-2,001,0008,169,000848,000-8,858,0003,673,000-3,941,0002,201,000965,0002,244,000-15,874,000-14,691,000-4,566,00046,607,0000
Creditors000000000000000
Accruals and Deferred Income3,419,000-461,00074,000389,000-1,427,000332,000268,000-229,000-428,0001,477,000-3,709,000-2,113,000-2,717,0008,550,0000
Deferred Taxes & Provisions000000000000000
Cash flow from operations-4,278,9701,225,510-6,688,3041,191,9096,434,9313,297,3298,777,645840,3342,678,1184,496,50512,278,00025,538,00022,931,000-16,134,00037,757,000
Investing Activities
capital expenditure00000000000002,105,000-2,105,000
Change in Investments-182,000000000000000385,0000
cash flow from investments182,0000000000000001,720,000-2,105,000
Financing Activities
Bank loans000000000000000
Group/Directors Accounts3,283,000788,0007,256,000-1,039,000-6,649,0002,214,000-950,000-190,0002,902,000-4,337,000-1,558,000-2,118,000-2,029,00017,293,0000
Other Short Term Loans 0000000000000-29,419,00029,419,000
Long term loans000000000000000
Hire Purchase and Lease Commitments000000000000000
other long term liabilities000000000000000
share issue0000000000000053,001,000
interest000-33,00039,00013,00000-2,000-19,000-27,000-238,000-25,00057,0009,283
cash flow from financing3,283,000788,0007,256,000-1,072,000-6,610,0002,227,000-950,000-190,0002,900,000-4,356,000-1,585,000-2,356,000-2,054,000-12,069,00082,429,283
cash and cash equivalents
cash-909,0002,010,000570,000153,000-513,000-2,604,0001,859,000-1,245,0002,425,000140,000-2,029,0002,125,000-1,539,000-2,046,0003,713,000
overdraft000000000000000
change in cash-909,0002,010,000570,000153,000-513,000-2,604,0001,859,000-1,245,0002,425,000140,000-2,029,0002,125,000-1,539,000-2,046,0003,713,000

qbe underwriting limited Credit Report and Business Information

Very Low Risk70 - 100
Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Qbe Underwriting Limited Competitor Analysis

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Perform a competitor analysis for qbe underwriting limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other large companies, companies in EC3M area or any other competitors across 12 key performance metrics.

qbe underwriting limited Ownership

QBE UNDERWRITING LIMITED group structure

Qbe Underwriting Limited has 2 subsidiary companies.

Ultimate parent company

QBE INSURANCE GROUP LTD

#0000937

2 parents

QBE UNDERWRITING LIMITED

01035198

2 subsidiaries

QBE UNDERWRITING LIMITED Shareholders

qbe holdings (eo) ltd 100%

qbe underwriting limited directors

Qbe Underwriting Limited currently has 9 directors. The longest serving directors include Mr Nigel Terry (Dec 2016) and Mrs Catherine Brown (May 2019).

officercountryagestartendrole
Mr Nigel TerryBelgium54 years Dec 2016- Director
Mrs Catherine BrownEngland58 years May 2019- Director
Mr Jason HarrisBelgium57 years Dec 2020- Director
Mr Christopher KillourhyBelgium47 years Feb 2021- Director
Ms Cecile FresneauEngland52 years Nov 2021- Director
Mr Steven MaddockUnited Kingdom56 years Feb 2022- Director
Mr Robert StoneBelgium49 years Dec 2022- Director
Sir Norman Skeoch68 years Mar 2023- Director
Mr Timothy WadeBelgium65 years Mar 2024- Director

P&L

December 2023

turnover

21m

+205%

operating profit

14.4m

0%

gross margin

100%

0%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

December 2023

net assets

17.5m

+1.66%

total assets

35.8m

+0.97%

cash

2.1m

-0.3%

net assets

Total assets minus all liabilities

qbe underwriting limited company details

company number

01035198

Type

Private limited with Share Capital

industry

65120 - Non-life insurance

incorporation date

December 1971

age

53

incorporated

UK

ultimate parent company

QBE INSURANCE GROUP LTD

accounts

Full Accounts

last accounts submitted

December 2023

previous names

limit underwriting limited (December 2007)

janson green limited (October 1999)

accountant

-

auditor

PRICEWATERHOUSECOOPERS LLP

address

30 fenchurch street, london, EC3M 3BD

Bank

-

Legal Advisor

-

qbe underwriting limited Charges & Mortgages

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 2 charges/mortgages relating to qbe underwriting limited. Currently there are 0 open charges and 2 have been satisfied in the past.

qbe underwriting limited Capital Raised & Share Issues BETA

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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qbe underwriting limited Companies House Filings - See Documents

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