MERCANTILE INDEMNITY COMPANY LIMITED
Get an alert when MERCANTILE INDEMNITY COMPANY LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-06 (in 1mo)
Last made up 2025-05-23
Watchouts
Cash
—
Latest balance sheet
Net assets
£84M
-2.2% vs 2023
Employees
0
Average over period
Profit before tax
-£3M
-128.8% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Name history
Renamed 1 time since incorporation
- MERCANTILE INDEMNITY COMPANY LIMITED 1984-04-19 → present
- MERCANTILE MUTUAL INSURANCE (U.K.) LIMITED 1980-06-06 → 1984-04-19
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Gross written premiums | £53,000 | £0 | |
| Net earned premiums | £13,000 | £0 | |
| Claims incurred | £9,196,000 | £3,378,000 | |
| Investment return | £23,545,000 | £3,115,000 | |
| Profit before tax | £11,016,000 | -£3,169,000 | |
| Net profit | £7,018,000 | -£1,923,000 | |
| Insurance contract liabilities | £606,801,000 | £566,522,000 | |
| Total assets | £702,654,000 | £663,794,000 | |
| Total liabilities | — | — | |
| Equity | £86,021,000 | £84,098,000 | |
| Average employees | 0 | 0 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 87.8% | 87.3% |
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 have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”
Significant events
- “On July 29, 2024, Enstar Group Limited entered into an Agreement and Plan of Merger (the "Merger Agreement") with Elk Bidco Limited (the "Parent"), an exempted company limited by shares existing under the laws of Bermuda.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 35 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BROOK, Freya Marguerite | Secretary | 2019-05-14 | — | — |
| HEXTALL, Siobhan Mary | Secretary | 2007-11-20 | — | Irish |
| CROSSLEY, Nicolas Jean | Director | 2024-11-18 | Nov 1976 | British |
| GODDARD, Mary Edith Lancaster | Director | 2022-08-15 | Feb 1958 | British |
| HAYNES, Jeremy William | Director | 2023-05-18 | May 1966 | British |
| HEAP, Michael Conrad | Director | 2022-06-29 | Jun 1969 | British |
| MCDIARMID, Ruth | Director | 2021-09-15 | Dec 1978 | Scottish |
| SUTLOW, Richard Anthony | Director | 2025-04-01 | Jul 1964 | British |
Show 35 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GERMAIN, Steven Daniel | Secretary | 1994-07-27 | 2004-09-17 |
| MITCHELL, John Gordon | Secretary | — | 1995-12-27 |
| MORGAN, Richard Trevor Antony | Secretary | 1996-02-26 | 2004-12-21 |
| CORNHILL SECRETARIES LIMITED | Corporate Nominee Secretary | 2004-12-21 | 2007-11-20 |
| ALDOUS, Stephen David | Director | 2006-08-18 | 2008-11-06 |
| ATKINS, Amanda Jane | Director | — | 1994-07-27 |
| ATKINS, David John | Director | 2018-01-24 | 2020-09-29 |
| BROWN, David Arthur | Director | 1994-07-27 | 1999-08-03 |
| BROWN, Marcus Clement, Reverend | Director | — | 1994-07-27 |
| COX, Timothy Michael | Director | 1995-05-17 | 2004-12-21 |
| CUMMING, John Cochrane | Director | — | 1993-04-28 |
| FORBES, Christopher David | Director | 2018-08-01 | 2022-03-07 |
| GALE, Barry John | Director | 2004-04-30 | 2004-12-21 |
| GLUCKSTERN, Steven Mark | Director | 1994-07-27 | 1996-12-20 |
| HACKETT, David Ward | Director | 2004-12-21 | 2008-06-12 |
| HAMER, Michael David | Director | 1994-07-27 | 1996-12-20 |
| MERRIMAN, Brendan Richard Anthony, Mr | Director | 2019-05-01 | 2021-10-31 |
| MURPHY, Karl Peter | Director | 2019-01-17 | 2022-10-21 |
| NICHOLS, Thomas James | Director | 2008-06-12 | 2011-04-28 |
| NOKES, Gareth Howard John | Director | 2008-06-12 | 2012-05-03 |
| PALM, Michael Douglas | Director | 1994-07-27 | 1996-12-20 |
| REID, Derek Robert Douglas | Director | 2004-12-30 | 2011-04-28 |
| RENNIE, Carol Ann | Director | 1996-12-20 | 2000-09-30 |
| RILEY, Jeremy Hardwicke | Director | 2018-10-01 | 2024-07-25 |
| ROCKE, David Michael | Director | 2007-06-20 | 2008-06-12 |
| ROCKE, David Michael | Director | 2004-12-21 | 2006-08-18 |
| STEEN, James Kenneth | Director | — | 1992-08-04 |
| SWEENEY, Eileen Marie | Director | 1994-07-27 | 2000-09-30 |
| THOMAS, Clive Paul | Director | 2008-06-12 | 2019-04-30 |
| TRUMAN, Darren Scott | Director | 2018-02-01 | 2024-06-30 |
| TURNER, Alan John | Director | 2006-03-15 | 2019-06-30 |
| WALKER, Brian John | Director | 2011-07-12 | 2016-02-29 |
| WESTERN, Steven Roger | Director | 2016-04-13 | 2022-05-31 |
| WILKES, Theo James Rickus | Director | 2012-09-14 | 2014-06-16 |
| WINSTON, David Neil | Director | 2001-06-22 | 2004-04-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Anthony Michael Muscolino | Individual | Voting 25–50% | 2025-07-02 | Active |
| Mr Joshua William Easterly | Individual | Voting 25–50% | 2025-07-02 | Active |
| Mrs Jennifer Elizabeth Gordon | Individual | Voting 25–50% | 2025-07-02 | Active |
| Enstar Group Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2025-07-02 |
Filing timeline
Last 20 of 249 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-12-05 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-23 | CH01 | officers | Change person director company with change date | |
| 2025-09-03 | AA | accounts | Accounts with accounts type full | |
| 2025-07-31 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-07-30 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-07-30 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-07-30 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-06-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-02 | AA | accounts | Accounts with accounts type full | |
| 2024-07-29 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-05 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2023-12-05 | SH20 | capital | Legacy | |
| 2023-12-05 | RESOLUTIONS | resolution | Resolution | |
| 2023-12-05 | CAP-SS | insolvency | Legacy | |
| 2023-09-20 | AA | accounts | Accounts with accounts type full | |
| 2023-05-18 | AP01 | officers | Appoint person director company with name date | |
| 2023-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Gross written premiums
-100%
£53,000 £0
-
Net earned premiums
-100%
£13,000 £0
-
Profit before tax
-128.8%
£11,016,000 -£3,169,000
-
Equity
-2.2%
£86,021,000 £84,098,000
-
Claims incurred
-63.3%
£9,196,000 £3,378,000
-
Insurance contract liabilities
-6.6%
£606,801,000 £566,522,000
-
Investment return
-86.8%
£23,545,000 £3,115,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers