PCG 2019 CORPORATE MEMBER LIMITED
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Cash
£46m
USD 57,600,000
+4,074.5% vs 2023
Net assets
£87m
USD 109,900,000
+249.6% vs 2023
Employees
0
Average over period
Profit before tax
£79m
USD 99,100,000
+449.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-09-30.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £583,307,185 | £456,462,910 | -21.7% | |
| Operating profit | -£2,196,423 | £73,384,273 | +3,441.1% | |
| Profit before tax | £14,355,193 | £78,876,154 | +449.5% | |
| Net profit | £8,550,361 | £63,116,842 | +638.2% | |
| Cash | £1,098,211 | £45,845,272 | +4,074.5% | |
| Total assets less current liabilities | £1,035,142,767 | £777,379,815 | -24.9% | |
| Net assets | £25,023,533 | £87,472,143 | +249.6% | |
| Equity | £25,023,533 | £87,472,143 | +249.6% | |
| Average employees | 0 | 0 | — | |
| Wages | — | — | — | |
| Directors' remuneration | — | — | — |
Figures converted to GBP from USD at 0.796 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -0.4% | 16.1% | |
| Net margin | 1.5% | 13.8% | |
| Return on capital employed | -0.2% | 9.4% | |
| Gearing (liabilities / total assets) | 98.2% | 92.2% | |
| Current ratio | 2.00x | 1.57x | |
| Interest cover | -0.70x | 28.81x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider that the Syndicate's operations will continue for the foreseeable future and, as such, have a reasonable expectation that the Company will continue as a going concern.”
Significant events
- “In December 2024, AIG non-renewed the PCS Whole Account Quota Share for the 2025 underwriting year of account.”
- “A series of wildfires affected the Los Angeles metropolitan area during January 2025. The Company, via the Syndicate, has exposure to this in the Property and Marine classes of business. At this stage, analysis of the losses is ongoing, but the insured losses are expected to be in the range of $65m and not more than $100m, after taking account of insurance limits.”
- “The Syndicate capacity for the 2025 underwriting year of account has decreased to £21.0m (2024: £498.2m).”
- “In 2024, the Company moved to a new premise (58 Fenchurch Street) in London and the previous office (60 Threadneedle Street) was vacated by June 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COWLING, Richard David | Director | 2022-04-26 | Dec 1982 | British |
| ROSS, Julian Graeme | Director | 2019-12-23 | Dec 1965 | British |
| WOOLLEY, Emma Louise | Director | 2025-05-08 | Jan 1979 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GALLAGHER, Marie-Claire | Secretary | 2019-12-23 | 2024-04-03 |
| BARTON, Catherine Elizabeth | Director | 2020-11-05 | 2021-08-31 |
| MORRIS, David Ernest | Director | 2019-12-23 | 2021-01-30 |
| RASH, Christopher John Roland | Director | 2021-05-10 | 2025-05-08 |
| WACHMAN, Nigel David | Director | 2019-12-23 | 2020-09-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| American International Group, Inc. | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-12-23 | Active |
Filing timeline
Last 20 of 28 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-16 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2025-09-16 | AA | accounts | Accounts with accounts type full | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-12 | AA | accounts | Accounts with accounts type full | |
| 2024-05-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-04-04 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-01-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-03-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-18 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2022-09-28 | AA | accounts | Accounts with accounts type full | |
| 2022-05-27 | AP01 | officers | Appoint person director company with name date | |
| 2022-04-07 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-04-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-01-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-12-15 | SH01 | capital | Capital allotment shares | |
| 2021-09-28 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.