FORTEGRA INSURANCE UK LTD.

Company Registration Number:
15182608 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

FORTEGRA INSURANCE UK LTD.

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FORTEGRA INSURANCE UK LTD.

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The Company's principal activity is that of the provision of insurance services. The Company is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority to carry on the business of insurance in the following classes of general business: Accident, Aircraft liability, Credit, Fire and natural forces, Goods in transit, Legal expenses, Miscellaneous financial loss, Ships, Suretyship, Aircraft, Assistance, Damage to property, General liability, Land Vehicles, Liability for ships, Motor vehicle liability and Sickness

Additional information

Going Concern The financial statements have been prepared on a going concern basis as outlined in note 2 of the financial statements. In assessing the appropriateness of the going concern basis (Please see business review section in Strategic report), the Directors have taken account of the development of the Company's operations to date and of all relevant information covering a period of at least twelve months from the date of approval of the financial statements. Results and dividends The loss for the year, after taxation, amounted to £273k (2023: £nil). No ordinary dividends were paid. The Directors have not recommended a dividend (2023: £Nil). Future Outlook The Board of Fortegra believes that our long-term strategy is both relevant and realistic. We will continue to expand our market presence by prioritizing growth. To achieve this, we will uphold our scalable model through strategic planning and by leveraging our robust risk transfer mechanisms to provide comprehensive insurance solutions to our specialty and commercial customers. Establishing strong relationships with our stakeholders, both internal and external will be essential to executing our strategic plan. The directors are responsible for preparing the Strategic report, the Directors' report, and the financial statements in accordance with applicable laws and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 and 103 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. Directors’ responsibility statement Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the company's situation and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information to the auditors Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: so far as the Directors are aware, there is no relevant audit information of which the Company's auditors are unaware, and the Directors have taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Post balance sheet events There have been no significant events affecting the company since the year-end.



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Richard Kahlbaugh
 Deborah Calderbank

The director shown below has held office during the period of
1 January 2024 to 27 September 2024

Khizerul Huda

The directors shown below have held office during the period of
21 May 2024 to 31 December 2024

Francis Colalucci
 Andrew Dodd
 John David King
 Abigail Taylor

The director shown below has held office during the period of
20 May 2024 to 31 December 2024

Mark Figes

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 June 2025

And signed on behalf of the board by:
Name: Richard Kahlbaugh
Status: Director

FORTEGRA INSURANCE UK LTD.

Profit And Loss Account

for the Period Ended 31 December 2024

2024 3 months to 31 December 2023


£
£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Administrative expenses: ( 342,000 )
Other operating income: 69,000
Operating profit(or loss): (273,000) 0
Profit(or loss) before tax: (273,000) 0
Tax: 0
Profit(or loss) for the financial year: (273,000) 0

FORTEGRA INSURANCE UK LTD.

Balance sheet

As at 31 December 2024

Notes 2024 3 months to 31 December 2023


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments: 3 20,024,000 0
Total fixed assets: 20,024,000 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 37,000 100
Investments:   0 0
Total current assets: 37,000 100
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 334,000 ) 0
Net current assets (liabilities): (297,000) 100
Total assets less current liabilities: 19,727,000 100
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 19,727,000 100
Capital and reserves
Called up share capital: 20,000,000 100
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: (273,000 ) 0
Total Shareholders' funds: 19,727,000 100

The notes form part of these financial statements

FORTEGRA INSURANCE UK LTD.

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 20 June 2025
and signed on behalf of the board by:

Name: Richard Kahlbaugh
Status: Director

The notes form part of these financial statements

FORTEGRA INSURANCE UK LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Long leasehold, at varying rates on cost Plant and machinery , 20% on cost Fixtures and fittings, 20% on cost Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

    Valuation information and policy

    The Company's investments in fixed maturity securities are classified as financial assets at fair value through profit or loss ("FVPL"). As permitted by FRS 102, the Company has elected to apply the recognition and measurement provisions of IAS 39 - Financial instruments (as adopted for use in the UK) to account for all of its financial instruments. Financial assets at fair value through profit or loss comprise two subcategories, namely financial assets held for trading and those designated at fair value through profit or loss at inception. Investments typically bought with the intention to sell in the near future are classified as held for trading. For investments designated at fair value through profit or loss, the following criteria must be met: The designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the assets or liabilities or recognising gains or losses on a different basis; or The assets and liabilities are part of a group of financial assets which are managed, and their performance evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. These investments are initially recorded at fair value. Subsequent to initial recognition, these investments are re-measured at fair value at each reporting date. Fair value adjustments and realised gains and losses are recognised in the profit and loss account as they arise. Fair values of the Company's fixed maturity securities are based on quoted market prices or, when such prices are not available, by reference to broker or underwriter bid indications Ai1d/or internal pricing valuation techniques. Investment transactions are recorded on a trade date basis, with balances pending settlement recorded in the Statement of Financial Position as receivable, for investments sold, or payable, for investments purchased. The Company uses the following hierarchy for measuring the fair value of financial instruments: Level 1 inputs: these are quoted (unadjusted) prices in active markets for identical assets or liabilities that the entity can access at the measurement date. A quoted price provides the most reliable evidence of fair value and must be used without adjustment to measure fair value whenever available. An active market is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an on-going basis. The quoted price is usually the bid price. Level 2 inputs: these are inputs other than quoted prices included within level I that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs that are observable such as interest rates and yield curves observable at commonly quoted intervals, implied volatility or credit spreads and market-corroborated inputs. Level 3 inputs: these are unobservable inputs for the asset or liability and are used to measure fair value to the extent that relevant observable inputs are not available. Unobservable inputs are used to measure fair value by use of valuation techniques. The objective of using the valuation technique is to estimate what the fair value would have been on the measurement date.

    Other accounting policies

    Foreign Currencies Debtors Cash and Cash Equivalents Creditors Share Capital Provisions and Contingencies

FORTEGRA INSURANCE UK LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 3 months to 31 December 2023
    Average number of employees during the period 0 0

FORTEGRA INSURANCE UK LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Fixed assets investments note

Investments are valued at their fair market value as of 31st December 2024. The fair market value of financial instruments in active markets is determined based on the quoted market prices on the balance sheet date. This is in accordance with IAS 39 Fair value ("FV") recognition and FV hierarchy level 1. A market is considered active if the quoted prices are easily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency. Additionally, the prices need to represent actual and regularly occurring market transactions on an arm's length basis.

FORTEGRA INSURANCE UK LTD.

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024 3 months to 31 December 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 215,000 0
Other creditors 119,000 0
Total 334,000 0