PEN UNDERWRITING LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-13 (in 2mo)
Last made up 2025-06-29
Watchouts
None on the register
Cash
£89M
+7.6% vs 2023
Net assets
£64M
+5.4% vs 2023
Employees
—
Average over period
Profit before tax
£25M
+38.1% vs 2023
Name history
Renamed 3 times since incorporation
- PEN UNDERWRITING LIMITED 2015-09-29 → present
- OIM UNDERWRITING LIMITED 2008-09-17 → 2015-09-29
- OXYGEN INSURANCE MANAGERS LIMITED 2004-10-07 → 2008-09-17
- OXYGEN INSURANCE INTERMEDIARIES EMA LIMITED 2004-07-07 → 2004-10-07
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 |
|---|---|---|---|
| Turnover | £77,339,000 | £86,126,000 | |
| Operating profit | — | — | |
| Profit before tax | £17,927,000 | £24,757,000 | |
| Net profit | £17,927,000 | £24,577,000 | |
| Cash | £82,807,000 | £89,085,000 | |
| Total assets less current liabilities | £61,417,000 | £64,987,000 | |
| Net assets | £61,105,000 | £64,418,000 | |
| Equity | £61,105,000 | £64,418,000 | |
| Average employees | — | — | |
| Wages | — | — |
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 |
|---|---|---|---|
| Net margin | 23.2% | 28.5% | |
| Current ratio | 1.23x | 1.26x |
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
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company has adequate resources to continue in operational existence for a period of at least to 31 July 2026 and no material uncertainties related to going concern have been identified.”
Significant events
- “The external environment in 2024 remained volatile throughout, with the conflicts in Ukraine and the Middle East. To date these have had limited impacts on the business.”
- “In December 2023, the board of Pen Underwriting Limited approved a number of changes to the membership of the board, which took effect in March 2024. The changes were made in order to evolve the Company's governance, in line with the growth and development of the business.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 47 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| OTTERSON, Robert James | Secretary | 2024-12-17 | — | — |
| CLUTTERBUCK, Neil Andrew | Director | 2025-03-11 | Jan 1967 | British |
| COUSINS, David Michael Edwin | Director | 2021-06-21 | Jan 1973 | British |
| CRAWFORD, Charles Robertson | Director | 2024-03-14 | Mar 1964 | British |
| DOWNEY, Tom | Director | 2018-09-10 | Nov 1967 | Irish |
| FRANCIS, Clare Louise | Director | 2025-05-09 | Jun 1969 | British |
| GREEN, Simon Anthony | Director | 2017-07-13 | Oct 1963 | British |
| LANGLEY, Susan Carol | Director | 2024-03-14 | Jul 1963 | British |
| RUSH, David James | Director | 2025-10-27 | Jun 1965 | British |
| SCOTT, Charles Douglas Knowles | Director | 2024-03-14 | Dec 1973 | British |
Show 47 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| KNOBLAUCH, Franz Josef | Secretary | 2004-07-07 | 2008-09-15 |
| MCGOWAN, William Lindsay | Secretary | 2012-09-11 | 2018-08-10 |
| PEEL, Alistair Charles | Secretary | 2018-08-10 | 2024-07-26 |
| PFITZNER, Alissa Gai Pohl | Secretary | 2008-09-15 | 2012-09-10 |
| ALFORD, Robert John | Director | 2004-09-16 | 2008-09-15 |
| ARMITAGE, Mark Nicholas | Director | 2015-07-17 | 2017-01-19 |
| BARTON, Michael Keith | Director | 2008-09-15 | 2011-08-31 |
| BARTON, Nigel Anthony | Director | 2004-07-07 | 2008-09-15 |
| BELTON, Michael Vincent | Director | 2018-10-19 | 2019-10-29 |
| BENJAMIN, John | Director | 2004-09-16 | 2007-07-20 |
| BINKS, Tom Anthony | Director | 2007-09-20 | 2008-09-15 |
| BREE, Michelle | Director | 2020-01-18 | 2020-09-30 |
| BRESLIN, Sarah | Director | 2020-12-10 | 2023-07-01 |
| BROWN, Adrian Peter | Director | 2014-11-10 | 2015-02-27 |
| CHILTON, Grahame David | Director | 2015-05-01 | 2018-10-01 |
| COOPER-MITCHELL, Michael | Director | 2008-10-01 | 2014-06-30 |
| DALGARNO, Sarah | Director | 2008-09-16 | 2015-03-17 |
| DRUMMOND-SMITH, James | Director | 2024-03-14 | 2026-02-28 |
| ECKERT, Neil David | Director | 2013-03-20 | 2015-09-08 |
| FIELD, Roger Anthony | Director | 2010-01-21 | 2017-12-31 |
| FISHER, Sian | Director | 2004-09-16 | 2014-10-10 |
| GALLAGHER, John Patrick | Director | 2008-09-16 | 2013-06-19 |
| GALLAGHER, Thomas Joseph | Director | 2011-06-30 | 2016-06-03 |
| HASTINGS-BASS, John Peter | Director | 2011-10-26 | 2014-12-19 |
| KIER, Michael Hector | Director | 2004-09-16 | 2008-09-15 |
| KNOBLAUCH, Franz Josef | Director | 2004-07-07 | 2008-09-15 |
| LASHMAR, Gary | Director | 2010-01-21 | 2014-08-22 |
| LUCAS, Matthew | Director | 2021-01-11 | 2024-03-14 |
| MATSON, Simon | Director | 2018-10-01 | 2018-10-01 |
| MCGURN, David Edward | Director | 2008-09-16 | 2011-01-13 |
| MUGGE, Mark Stephen | Director | 2011-08-31 | 2015-01-26 |
| NEWBERY, Trevor Philip | Director | 2015-12-08 | 2021-11-01 |
| O'NEILL, Terry | Director | 2008-09-16 | 2014-12-31 |
| PANICKER, Praveen | Director | 2020-01-13 | 2020-12-16 |
| PATTEN, Louise Alexandra Virginia, Lady | Director | 2024-03-14 | 2025-01-04 |
| REA, Michael Peter | Director | 2015-12-14 | 2017-01-19 |
| RICHMOND, Carol Ann | Director | 2015-12-14 | 2021-01-01 |
| ROSS, David Christopher | Director | 2008-09-16 | 2015-02-09 |
| SANDLER, Ronald Arnon | Director | 2004-09-16 | 2008-02-17 |
| SCOTT, Charles Douglas | Director | 2018-07-09 | 2021-01-01 |
| SPENCER, Michael Alan, Lord Spencer Of Alresford | Director | 2005-03-17 | 2007-09-20 |
| STORY, Ian Graham | Director | 2015-04-29 | 2018-06-30 |
| STRUTT, Jennifer Louise | Director | 2020-09-08 | 2024-03-14 |
| THOMSON, Catriona Anne | Director | 2023-07-12 | 2024-03-14 |
| TREBBLE, Richard John | Director | 2007-12-21 | 2008-09-15 |
| TURNER, Jonathan Rory | Director | 2016-02-09 | 2020-03-01 |
| WRIGHT, Nicholas Lloyd | Director | 2021-07-29 | 2024-03-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Gallagher Holdings (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-09-30 | Active |
Filing timeline
Last 20 of 190 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-08 RESOLUTIONS Resolution
- 2025-10-08 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-08 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-08 | MA | incorporation | Memorandum articles | |
| 2025-09-02 | CH01 | officers | Change person director company with change date | |
| 2025-09-02 | CH01 | officers | Change person director company with change date | |
| 2025-09-02 | CH01 | officers | Change person director company with change date | |
| 2025-07-21 | AA | accounts | Accounts with accounts type full | |
| 2025-07-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-23 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-08-09 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-07-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-02 | AA | accounts | Accounts with accounts type full | |
| 2024-03-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-18 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 1
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
-
Turnover
+11.4%
£77,339,000 £86,126,000
-
Cash
+7.6%
£82,807,000 £89,085,000
-
Net assets
+5.4%
£61,105,000 £64,418,000
-
Employees
—
Not reported
-
Profit before tax
+38.1%
£17,927,000 £24,757,000
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