HISCOX INSURANCE COMPANY LIMITED
Company Information
- Company Number
- 00070234
- Registered Address
- 22 Bishopsgate, London, United Kingdom, EC2N 4BQ
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 192666000.0
- EBITDA
- 46752000.0
Additional Details
- Website
- https://charliecarne.com/
- Company Type
- Private limited Company
- Incorporated On
- 17 May 1901
- Nature of Business
- 65120 - Non-life insurance
- Industries
- Financial Services
- Region
- London
Company Location
Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 13 | 94% | 5% | 1% | 6% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Jul 2023 | 13 | 93% | 6% | 1% | 7% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 15 | 91% | 7% | 2% | 11% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 20 | 87% | 8% | 5% | 13% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 16 | 91% | 7% | 2% | 9% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 18 | 88% | 8% | 4% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 16 | 89% | 8% | 3% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 15 Jul 2020 | 26 | 78% | 19% | 3% | 22% |
| 01 Jul 2019 - 31 Dec 2019 | 16 Jan 2020 | 23 | 67% | 20% | 12% | 32% |
| 01 Jan 2019 - 30 Jun 2019 | 10 Jul 2019 | 23 | 89% | 8% | 3% | 9% |
Company Summary
HISCOX INSURANCE COMPANY LIMITED is a leading insurance provider that offers a wide range of products and services to its customers
The company is committed to sustainability and has a strong focus on environmental, social, and governance issues
Their sustainability program includes initiatives such as reducing carbon emissions, promoting diversity and inclusion, and supporting local communities
They also have a responsible investment strategy and work towards reducing their environmental impact through efficient use of resources
HISCOX offers various insurance products including property, casualty, marine, and specialty insurance
They also provide risk management solutions and services to businesses of all sizes
The company has a global presence and caters to clients in over 190 countries
The key people at HISCOX include Bronek Masojada, the CEO, and Aki Hussain, the CFO
They are supported by a team of experienced professionals who are dedicated to providing high-quality insurance services to their clients
Contact information for HISCOX can be found on their website, which is www.hiscox.com
Their registered office address is 1 Great St
Helen's, London EC3A 6HX, United Kingdom
In conclusion, HISCOX INSURANCE COMPANY LIMITED is a reputable and sustainable insurance provider with a diverse range of products and services
Their commitment to sustainability and focus on customer satisfaction make them a trusted choice for insurance needs
Company Review
Trend Analysis
There is a decreasing trend in the average time taken for HISCOX INSURANCE COMPANY LIMITED to pay invoices to suppliers. From 2019 to 2023, the average time taken has decreased from 23 days to 13 days.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively low, staying between 87% and 94%. However, there has been more volatility in the percentage of invoices paid between 31 and 60 days, ranging from 5% to 20%.
Summary Analysis
From 2019 to 2023, HISCOX INSURANCE COMPANY LIMITED has consistently maintained a standard payment period of 30 days. However, there has been a decrease in the average time taken to pay invoices, from 23 days in 2019 to 13 days in 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Hiscox standard payment terms are 30 days from receipt of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
Disputes are notified to the Accounts Payable team at AccountsPayable@Hiscox.com. They are investigated within 14 working days and resolved directly with the supplier and any named Hiscox contact as required. Where relevant, disputes can be escalated or notified to the Group Finance director. A record of all disputes and there resolution are maintained for future reference.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available