hiscox syndicates limited
hiscox syndicates limited Company Information
Company Number
02590623
Website
https://www.hiscox.com/Registered Address
22 bishopsgate, london, EC2N 4BQ
Industry
Non-life insurance
Telephone
02074486000
Next Accounts Due
September 2025
Group Structure
View All
Shareholders
hiscox holdings ltd 100%
hiscox holdings ltd & robert r.s. hiscox 0%
hiscox syndicates limited Estimated Valuation
Pomanda estimates the enterprise value of HISCOX SYNDICATES LIMITED at £83.3m based on a Turnover of £68.6m and 1.21x industry multiple (adjusted for size and gross margin).
hiscox syndicates limited Estimated Valuation
Pomanda estimates the enterprise value of HISCOX SYNDICATES LIMITED at £505.5m based on an EBITDA of £29.1m and a 17.36x industry multiple (adjusted for size and gross margin).
hiscox syndicates limited Estimated Valuation
Pomanda estimates the enterprise value of HISCOX SYNDICATES LIMITED at £62.4m based on Net Assets of £45m and 1.39x industry multiple (adjusted for liquidity).
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Hiscox Syndicates Limited Overview
Hiscox Syndicates Limited is a live company located in london, EC2N 4BQ with a Companies House number of 02590623. It operates in the non-life insurance sector, SIC Code 65120. Founded in March 1991, it's largest shareholder is hiscox holdings ltd with a 100% stake. Hiscox Syndicates Limited is a mature, large sized company, Pomanda has estimated its turnover at £68.6m with rapid growth in recent years.
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Hiscox Syndicates Limited Health Check
Pomanda's financial health check has awarded Hiscox Syndicates Limited a 4.5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 2 areas for improvement. Company Health Check FAQs
5 Strong
2 Regular
2 Weak
Size
annual sales of £68.6m, make it larger than the average company (£2.3m)
£68.6m - Hiscox Syndicates Limited
£2.3m - Industry AVG
Growth
3 year (CAGR) sales growth of 58%, show it is growing at a faster rate (7.2%)
58% - Hiscox Syndicates Limited
7.2% - Industry AVG
Production
with a gross margin of 98.5%, this company has a comparable cost of product (98.5%)
98.5% - Hiscox Syndicates Limited
98.5% - Industry AVG
Profitability
an operating margin of 41.5% make it more profitable than the average company (19.7%)
41.5% - Hiscox Syndicates Limited
19.7% - Industry AVG
Employees
with 431 employees, this is above the industry average (39)
- Hiscox Syndicates Limited
39 - Industry AVG
Pay Structure
on an average salary of £83.4k, the company has a higher pay structure (£62.7k)
- Hiscox Syndicates Limited
£62.7k - Industry AVG
Efficiency
resulting in sales per employee of £159.1k, this is equally as efficient (£159.1k)
- Hiscox Syndicates Limited
£159.1k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - Hiscox Syndicates Limited
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Hiscox Syndicates Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Hiscox Syndicates Limited
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (17 weeks)
0 weeks - Hiscox Syndicates Limited
17 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 56.6%, this is a lower level of debt than the average (83%)
56.6% - Hiscox Syndicates Limited
83% - Industry AVG
hiscox syndicates limited Credit Report and Business Information
Hiscox Syndicates Limited Competitor Analysis
Perform a competitor analysis for hiscox syndicates limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
hiscox syndicates limited Ownership
HISCOX SYNDICATES LIMITED group structure
Hiscox Syndicates Limited has 1 subsidiary company.
Ultimate parent company
HISCOX LTD
#0054897
2 parents
HISCOX SYNDICATES LIMITED
02590623
1 subsidiary
hiscox syndicates limited directors
Hiscox Syndicates Limited currently has 11 directors. The longest serving directors include Mr Paul Lawrence (Jun 2013) and Mr Hamayou Hussain (Mar 2017).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Paul Lawrence | 55 years | Jun 2013 | - | Director | |
| Mr Hamayou Hussain | 51 years | Mar 2017 | - | Director | |
| Ms Kate Markham | 50 years | Feb 2018 | - | Director | |
| Ms Joanne Musselle | England | 53 years | Jul 2018 | - | Director |
| Mr Andrew Dolphin | United Kingdom | 45 years | Apr 2020 | - | Director |
| Mr James Illingworth | United Kingdom | 62 years | Jun 2021 | - | Director |
| Ms Helen Rose | 57 years | Feb 2022 | - | Director | |
| Mr Timothy Harris | United Kingdom | 55 years | Mar 2022 | - | Director |
| Mr Paul Cooper | United Kingdom | 51 years | Jun 2022 | - | Director |
| Mrs Suzanne Kemble | United Kingdom | 57 years | Jul 2022 | - | Director |
HISCOX SYNDICATES LIMITED financials
Hiscox Syndicates Limited's latest turnover from December 2023 is £68.6 million and the company has net assets of £45 million. According to their latest financial statements, we estimate that Hiscox Syndicates Limited has 431 employees and maintains cash reserves of £182.8 thousand as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 68,554,321 | 28,444,812 | 21,848,025 | 17,378,341 | 13,213,637 | 28,826,406 | 33,523,642 | 49,054,000 | 42,822,000 | 42,712,000 | 39,468,000 | 26,034,000 | 35,514,000 | 45,665,000 | 50,845,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | |||||||||||||||
| Gross Profit | |||||||||||||||
| Admin Expenses | |||||||||||||||
| Operating Profit | 28,470,023 | 7,381,234 | 7,812,865 | 6,731,660 | 8,055,535 | ||||||||||
| Interest Payable | 2,364 | 85,086 | 127,479 | 176,294 | 212,256 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-Tax Profit | 28,467,659 | 7,296,147 | 7,685,386 | 6,555,366 | 7,843,280 | 19,328,443 | 22,574,910 | 27,306,000 | 24,678,000 | 27,304,000 | 23,956,000 | 12,718,000 | 28,129,000 | 29,392,000 | 20,476,000 |
| Tax | -9,088,474 | -2,543,134 | -2,279,620 | -1,801,934 | -1,536,672 | -3,541,157 | -5,923,826 | -7,303,000 | -6,236,000 | -6,943,000 | -6,544,000 | -3,580,000 | -6,964,000 | -9,317,000 | -5,237,000 |
| Profit After Tax | 19,379,185 | 4,753,013 | 5,405,766 | 4,753,432 | 6,306,608 | 15,787,286 | 16,651,084 | 20,003,000 | 18,442,000 | 20,361,000 | 17,412,000 | 9,138,000 | 21,165,000 | 20,075,000 | 15,239,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 54,333,333 | 0 | 0 | 20,000,000 | 5,000,000 | 15,000,000 | 25,000,000 | 30,000,000 | 20,000,000 | 0 |
| Retained Profit | 19,379,185 | 4,753,013 | 5,405,766 | 4,753,432 | 6,306,608 | -38,546,047 | 16,651,084 | 20,003,000 | -1,558,000 | 15,361,000 | 2,412,000 | -15,862,000 | -8,835,000 | 75,000 | 15,239,000 |
| Employee Costs | 35,926,101 | 18,143,071 | 11,384,769 | 8,491,348 | 5,296,940 | 8,089,650 | 10,948,732 | 21,748,000 | 18,144,000 | 15,327,000 | 15,394,000 | 13,345,000 | 6,533,000 | 16,219,000 | 30,225,000 |
| Number Of Employees | |||||||||||||||
| EBITDA* | 29,123,139 | 11,414,953 | 10,689,052 | 9,316,760 | 8,055,535 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 0 | 631,056 | 80,369,938 | 74,790,803 | 68,131,860 | 0 | 0 | 17,288,000 | 15,058,000 | 17,715,000 | 19,254,000 | 2,836,000 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments & Other | 0 | 0 | 77,308,781 | 69,001,543 | 60,638,947 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,288,000 | 15,058,000 | 17,715,000 | 19,254,000 | 2,836,000 | 0 | 0 | 0 |
| Total Fixed Assets | 0 | 631,056 | 80,369,938 | 74,790,803 | 68,131,860 | 0 | 0 | 17,288,000 | 15,058,000 | 17,715,000 | 19,254,000 | 2,836,000 | 0 | 0 | 0 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group Debtors | 37,423,776 | 73,027,653 | 0 | 0 | 0 | 34,575,387 | 39,843,666 | 19,312,000 | 0 | 2,668,000 | 394,000 | 6,218,000 | 2,229,000 | 4,117,000 | 327,000 |
| Misc Debtors | 65,976,522 | 16,984,164 | 0 | 0 | 0 | 18,933,985 | 45,539,121 | 40,545,000 | 39,153,000 | 37,908,000 | 17,017,000 | 18,266,000 | 38,577,000 | 43,611,000 | 64,742,000 |
| Cash | 182,777 | 170,172 | 260,789 | 53,619 | 49,429 | 52,159 | 52,877 | 51,000 | 51,000 | 50,000 | 53,000 | 48,000 | 9,000 | 23,000 | 26,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 525,000 | 0 | 0 |
| total current assets | 103,583,077 | 90,181,990 | 260,790 | 53,619 | 49,429 | 53,561,532 | 85,435,666 | 59,908,000 | 39,204,000 | 40,626,000 | 17,464,000 | 24,532,000 | 41,340,000 | 47,751,000 | 65,095,000 |
| total assets | 103,583,077 | 90,813,046 | 80,630,728 | 74,844,422 | 68,181,289 | 53,561,532 | 85,435,666 | 77,196,000 | 54,262,000 | 58,341,000 | 36,718,000 | 27,368,000 | 41,340,000 | 47,751,000 | 65,095,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17,419,000 |
| Group/Directors Accounts | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 1,293,626 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 58,592,137 | 24,515,873 | 16,911,347 | 17,985,213 | 21,559,933 | 8,361,042 | 6,688,635 | 17,924,000 | 14,993,000 | 17,514,000 | 11,252,000 | 4,314,000 | 2,424,000 | 0 | 0 |
| total current liabilities | 58,592,137 | 25,809,501 | 16,911,348 | 17,985,214 | 21,559,933 | 8,361,043 | 6,688,635 | 17,924,000 | 14,993,000 | 17,514,000 | 11,252,000 | 4,314,000 | 2,424,000 | 0 | 17,419,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total liabilities | 58,592,137 | 25,809,501 | 16,911,348 | 17,985,214 | 21,559,933 | 8,361,043 | 6,688,635 | 17,924,000 | 14,993,000 | 17,514,000 | 11,252,000 | 4,314,000 | 2,424,000 | 0 | 17,419,000 |
| net assets | 44,990,940 | 65,003,545 | 63,719,380 | 56,859,208 | 46,621,356 | 45,200,489 | 78,747,030 | 59,272,000 | 39,269,000 | 40,827,000 | 25,466,000 | 23,054,000 | 38,916,000 | 47,751,000 | 47,676,000 |
| total shareholders funds | 44,990,940 | 65,003,545 | 63,719,380 | 56,859,209 | 46,621,356 | 45,200,489 | 78,747,030 | 59,272,000 | 39,269,000 | 40,827,000 | 25,466,000 | 23,054,000 | 38,916,000 | 47,751,000 | 47,676,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 28,470,023 | 7,381,234 | 7,812,865 | 6,731,660 | 8,055,535 | ||||||||||
| Depreciation | 653,116 | 4,033,719 | 2,876,187 | 2,585,100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | -9,088,474 | -2,543,134 | -2,279,620 | -1,801,934 | -1,536,672 | -3,541,157 | -5,923,826 | -7,303,000 | -6,236,000 | -6,943,000 | -6,544,000 | -3,580,000 | -6,964,000 | -9,317,000 | -5,237,000 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | 13,388,482 | 90,011,817 | 0 | 0 | -53,509,372 | -31,873,415 | 8,237,787 | 22,934,000 | -4,080,000 | 21,626,000 | 9,345,000 | -13,486,000 | -6,922,000 | -17,341,000 | 65,069,000 |
| Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -17,419,000 | 17,419,000 |
| Accruals and Deferred Income | 34,076,264 | 7,604,526 | -1,073,866 | -3,574,720 | 13,198,891 | 1,672,407 | -11,235,365 | 2,931,000 | -2,521,000 | 6,262,000 | 6,938,000 | 1,890,000 | 2,424,000 | 0 | 0 |
| Deferred Taxes & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow from operations | 40,722,447 | -73,535,472 | 7,335,566 | 3,940,106 | 73,227,126 | ||||||||||
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | 0 | -77,308,781 | 8,307,238 | 8,362,596 | 60,638,947 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 0 | 1 | 0 | 0 | -1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hire Purchase and Lease Commitments | -1,293,626 | 1,293,626 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||||||||||||
| interest | -2,364 | -85,086 | -127,479 | -176,294 | -212,256 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| cash flow from financing | -40,687,780 | -2,260,307 | 1,326,926 | 5,308,126 | -5,097,998 | 4,999,507 | 2,823,946 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32,437,000 |
| cash and cash equivalents | |||||||||||||||
| cash | 12,605 | -90,617 | 207,170 | 4,190 | -2,730 | -718 | 1,877 | 0 | 1,000 | -3,000 | 5,000 | 39,000 | -14,000 | -3,000 | 26,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 12,605 | -90,617 | 207,170 | 4,190 | -2,730 | -718 | 1,877 | 0 | 1,000 | -3,000 | 5,000 | 39,000 | -14,000 | -3,000 | 26,000 |
P&L
December 2023turnover
68.6m
+141%
operating profit
28.5m
+286%
gross margin
98.6%
+1.62%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
45m
-0.31%
total assets
103.6m
+0.14%
cash
182.8k
+0.07%
net assets
Total assets minus all liabilities
hiscox syndicates limited company details
company number
02590623
Type
Private limited with Share Capital
industry
65120 - Non-life insurance
incorporation date
March 1991
age
33
accounts
Full Accounts
ultimate parent company
previous names
minmar (154) limited (June 1991)
incorporated
UK
address
22 bishopsgate, london, EC2N 4BQ
last accounts submitted
December 2023
hiscox syndicates 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 1 charges/mortgages relating to hiscox syndicates limited. Currently there are 0 open charges and 1 have been satisfied in the past.
hiscox syndicates limited Companies House Filings - See Documents
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