Pension Insurance Corporation PLC
Registered name: PENSION INSURANCE CORPORATION PLC
Part of Athora UK Holding Limited groupPension Insurance Corporation PLC made £2.8bn revenue and £259m profit in the year to 31 Dec 2025.
Pension Insurance Corporation PLC’s revenue grew 18% to £2.8bn in the year to 31 Dec 2025, with £259m profit. The company is classified under “other activities auxiliary to insurance and pension funding” and is based in London; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 20 yrs · since 2006
- Type
- Public Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £2.4bn | £2.8bn |
| Cost of sales | −£2.2bn | −£2.4bn |
| Gross profit | £193m | — |
| Operating profit | £370m | £334m |
| Profit before tax | £370m | £334m |
| Profit after tax | £286m | £259m |
| Profit (best available) | £286m | £259m |
| Employees (average) | — | — |
| Ratios | ||
| Profit margin | 12% | 9.2% |
| Gross margin | 8.1% | — |
| Growth (year on year) | ||
| Revenue growth | — | ▲17.7% |
| Profit growth | — | ▼9.4% |
| Balance sheet — indirect signals, not revenue | ||
| Net assets | — | — |
| Source | Accounts · bulk data May 2025 | Accounts · bulk data Jun 2026 |
How the business works
- Profit margin
- 9.2%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Athora UK Holding Limitedultimate parent75–100%
- Pension Insurance Corporation Group Limited75–100%
- Pic Holdings Limited75–100%
- Pension Insurance Corporation PLCthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (4)
- Pic BTR Holdco LLPFigures not disclosed
- Pic Erm 1 LimitedFigures not disclosed
- Pic Real Estate (Cedar) GP LimitedFigures not disclosed
- Pic Real Estate (Minority Holdco) LimitedFigures not disclosed
Sister companies (8)
- Pension Services Corporation LimitedFigures not disclosed
- Pic Arbour GP LimitedFigures not disclosed
- Pic New Victoria GP LimitedFigures not disclosed
- Pic One Eastside GP LimitedFigures not disclosed
- Pic Properties GP LimitedFigures not disclosed
- Pic Real Estate GP LimitedFigures not disclosed
- Pic Wiltern GP LimitedFigures not disclosed
- Verda Living RP LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit £259m), from the Companies House accounts bulk data published Jun 2026. Spotted an error? Request a correction.
Updated from Companies House on 15 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.