diff --git a/src/company_cmd.cpp b/src/company_cmd.cpp
index 06948ee6c9..58ff40a974 100644
--- a/src/company_cmd.cpp
+++ b/src/company_cmd.cpp
@@ -436,11 +436,7 @@ Company *DoStartupNewCompany(bool is_ai)
 	c->inaugurated_year = _cur_year;
 	RandomCompanyManagerFaceBits(c->face, (GenderEthnicity)Random(), false); // create a random company manager face
 
-	/* Settings for non-ai companies are copied from the client settings later. */
-	if (is_ai) {
-		c->settings.engine_renew_money = 100000;
-		c->settings.engine_renew_months = 6;
-	}
+	SetDefaultCompanySettings(c->index);
 
 	GeneratePresidentName(c);
 
diff --git a/src/genworld_gui.cpp b/src/genworld_gui.cpp
index dd59938923..379ec8fa41 100644
--- a/src/genworld_gui.cpp
+++ b/src/genworld_gui.cpp
@@ -7,7 +7,6 @@
 #include "heightmap.h"
 #include "gui.h"
 #include "variables.h"
-#include "settings_func.h"
 #include "debug.h"
 #include "genworld.h"
 #include "network/network.h"
@@ -27,6 +26,7 @@
 #include "querystring_gui.h"
 #include "town.h"
 #include "thread.h"
+#include "settings_func.h"
 
 #include "table/strings.h"
 #include "table/sprites.h"
diff --git a/src/settings.cpp b/src/settings.cpp
index ad0ac1de33..af99588e77 100644
--- a/src/settings.cpp
+++ b/src/settings.cpp
@@ -1507,6 +1507,19 @@ void SetCompanySetting(uint index, int32 value)
 	}
 }
 
+/**
+ * Set the company settings for a new company to their default values.
+ */
+void SetDefaultCompanySettings(CompanyID cid)
+{
+	Company *c = Company::Get(cid);
+	const SettingDesc *sd;
+	for (sd = _company_settings; sd->save.cmd != SL_END; sd++) {
+		void *var = GetVariableAddress(&c->settings, &sd->save);
+		Write_ValidateSetting(var, sd, (int32)sd->desc.def);
+	}
+}
+
 /**
  * Sync all company settings in a multiplayer game.
  */
diff --git a/src/settings_func.h b/src/settings_func.h
index f1824fd7ab..e04038ef71 100644
--- a/src/settings_func.h
+++ b/src/settings_func.h
@@ -27,5 +27,6 @@ void DeleteGRFPresetFromConfig(const char *config_name);
 
 uint GetCompanySettingIndex(const char *name);
 void SyncCompanySettings();
+void SetDefaultCompanySettings(CompanyID cid);
 
 #endif /* SETTINGS_FUNC_H */