DARAG INSURANCE UK LIMITED
Company number 03654581 · Monitor this company
Executive summary
DARAG Insurance UK Limited operates as a specialized legacy run-off vehicle within the UK non-life insurance sector, focused on managing down historical liability claims rather than underwriting new business. Its 2022 financials reflect sector-wide headwinds, specifically a necessary reserve strengthening driven by Periodical Payment Order (PPO) inflation and unrealized investment losses, which combined to erode shareholder funds by 17.2%. While its fully outsourced operational model aligns with best practices for capital-efficient run-off management, the significant increase in technical provisions and depleted cash position underscore the inherent long-tail volatility and liquidity risks associated with UK liability legacy portfolios.
Shareholders' funds
£8,793,000
Balance sheet as at 2022-12-31
What it does
The Company’s principal activity during the year was to continue the orderly and solvent run-off of its general insurance liabilities.
The company's own description, from its latest filed accounts.
Overview
- Company type
- Private Limited Company
- Incorporated
- 1998-10-19
- Employees
- 0 (2022 accounts)
- Registered office
- 25 Eastcheap, 4th Floor, London, England, EC3M 1DT
- Postcode
- EC3M 1DT
- Capital
- 5 GBP
- Accounts category
- Full
- Charges
- 2 outstanding
Accounts
- Last made up to
- 2025-12-31
- Next due by
- 2027-09-30
- Financial year end
- 31 December
Confirmation statement
- Last statement dated
- 2026-04-18
- Next due by
- 2027-05-02
Nature of business (SIC)
- 65120 Non-life insurance
Officers 5 current · 32 resigned
Group structure
Controlled by ALEPH CAPITAL PARTNERS LIMITED — since 2023-05-03
Controlled by Polo Holdings Feeder Lp (00003115) — since 2020-09-22
Controlled by KEYHAVEN GROWTH PARTNERS L.P. — since 2020-02-05
Controlled by KEYHAVEN GROWTH PARTNERS II, L.P. — since 2020-02-05
From persons-with-significant-control filings on the public register.
Data protection registration
Registered with the ICO as a data protection fee payer — Z7747661 (Tier 1), registered since 2003.
Information Commissioner's Office register of fee payers, licensed under the Open Government Licence.
Previous company names
| Name | Date changed |
|---|---|
| THE UNDERWRITER INSURANCE COMPANY LIMITED | 2020-03-03 |
| THE UNDERWRITER COMPANY LIMITED | 1999-07-21 |
Previous registered addresses 8
| Address | Changed on |
|---|---|
| 90 FENCHURCH STREET, LONDON, EC3M 4ST | 2019-04-11 |
| PO BOX 1219, PO BOX 1219 THE GRANGE, BISHOPS CLEEVE, CHELTENHAM, GL50 9WS, UNITED KINGDOM | 2019-04-11 |
| 3RD FLOOR, 117 FENCHURCH STREET, LONDON, EC3M 5DY | 2014-03-31 |
| 10TH FLOOR, NO 2 MINSTER COURT, MINCING LANE, LONDON EC3R 7YN | 2007-01-07 |
| 1 MINSTER COURT, MINCING LANE, LONDON, EC3R 7YH | 2002-03-11 |
| WRENCOTE, 123 HIGH STREET, CROYDON, SURREY CR0 1QG | 1999-11-09 |
| C/O MORGAN STANLEY UK GROUP, 25 CABOT SQUARE, CANARY WHARF, LONDON E14 4QA | 1998-12-14 |
| C/O MORGAN STANLEY UK GROUP, 25 CABOT SQUARE, CANARY WHARF, LONDON E14 4QA | 1998-12-14 |
Among its peers
Top 5%
by shareholders' funds, of 245 similar companies in EC
Trading since 1998.
No.4 of the largest non-life insurance companies in London →
Competitors London
-
2. USAA LIMITED
This company ranks 4 among non-life insurance in London.
The class of 1998
53%
of the 229 companies in this sector incorporated in 1998 are still active today; 46% have since been dissolved.
A fact about the year, not a forecast for this company.
This company's registered activities are in financial services. If it carries on regulated business, it should appear on the FCA's Financial Services Register — the official record of authorised firms.