KGM Underwriting Services Limited
Registered name: KGM UNDERWRITING SERVICES LIMITED
Part of Howden Group Holdings Limited groupKGM Underwriting Services Limited made £22.6m revenue and £5m profit in the year to 30 Sep 2024.
KGM Underwriting Services Limited’s revenue grew 65% to £22.6m in the year to 30 Sep 2024, with £5m profit and 103 employees. The company is classified under “activities of insurance agents and brokers” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London
- Age
- 9 yrs · since 2017
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 30 Sep 2022 | 30 Sep 2023 | 30 Sep 2024 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £17.8m | £13.7m | £22.6m |
| Gross profit | £17.8m | £13.7m | £22.6m |
| Operating profit | £8.2m | £1.9m | £6m |
| Profit before tax | £8.2m | £1.9m | £6.7m |
| Profit after tax | £6.7m | £1.3m | £5m |
| Profit (best available) | £6.7m | £1.3m | £5m |
| Employees (average) | 84 | 84 | 103 |
| Ratios | |||
| Profit margin | 37.4% | 9.8% | 22% |
| Gross margin | 100% | 100% | 100% |
| Revenue per employee | £212k | £163k | £220k |
| Profit per employee | £79.2k | £16.1k | £48.4k |
| Growth (year on year) | |||
| Revenue growth | — | ▼22.8% | ▲64.9% |
| Profit growth | — | ▼79.7% | ▲269.8% |
| Headcount growth | — | 0% | ▲22.6% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Jul 2024 | Accounts · bulk data Jul 2024 | Accounts · bulk data Jul 2025 |
How the business works
- Profit margin
- 22%
- Profit ÷ revenue.
- Gross margin
- 100%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £220k
- Revenue ÷ average employees.
- Profit per employee
- £48.4k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▲23%
- Now 103
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Howden Group Holdings Limitedultimate parent75–100%
- HGH Midco 1 Limited75–100%
- HGH Midco 2 Limited75–100%
- HGH Finance Limited75–100%
- HGH Midco 3 Limited75–100%
- Dual International Limited75–100%
- KGM Underwriting Services Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (9)
- Dale Dual Mgu LimitedFigures not disclosed
- Daul Run-Off LimitedFigures not disclosed
- Dual Corporate Risks LimitedFigures not disclosed
- Eridge Underwriting Agency LtdFigures not disclosed
- Inet3 LimitedActive - Proposal to Strike offFigures not disclosed
- International Passenger Protection LimitedActive - Proposal to Strike offFigures not disclosed
- Rethink Underwriting LimitedFigures not disclosed
- Spring Partners (Holdings) LimitedFigures not disclosed
- Tamesis Dual LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 30 Sep 2024 (profit £5m), from the Companies House accounts bulk data published Jul 2025. Spotted an error? Request a correction.
Updated from Companies House on 20 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.