NATIONAL FARMERS UNION MUTUAL INSURANCE SOCIETY LIMITED(THE)
Company Information
- Company Number
- 00111982
- Registered Address
- Tiddington Road, Stratford-Upon-Avon, Warwickshire, CV37 7BJ
- Status
- Active
- Employee Count
- 4,213
- Turnover
- £1,942,000,000
- EBITDA
- -£1,202,000,000
Additional Details
- Website
- https://nfumutual.co.uk
- Company Type
- Private company limited by guarantee without share capital
- Incorporated On
- 30 September 1910
- Nature of Business
- 65110 - Life insurance65120 - Non-life insurance
- Industries
- Financial Services
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 2024 - 31 Dec 2024 | 17 Jan 2025 | 24 | 80% | 19% | 1% | 16% |
| 01 Jan 2024 - 30 Jun 2024 | 15 Jul 2024 | 23 | 82% | 17% | 1% | 15% |
| 01 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 24 | 80% | 19% | 1% | 18% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 24 | 81% | 16% | 3% | 20% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 22 | 81% | 17% | 2% | 20% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 22 | 80% | 18% | 2% | 24% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 22 | 81% | 16% | 3% | 27% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 24 | 75% | 21% | 4% | 33% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 22 | 81% | 16% | 3% | 30% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard payment terms are 30 days following the end of the month in which a correctly detailed invoice is received from the supplier referencing the number of the purchase order. Alternative payment terms can be discussed when entering into a contract.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
For the purpose of this report, where suppliers have been paid by direct debit, we have stated the time to pay as zero days.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Disputes are resolved on an individual basis, in the first instance, a supplier should contact the requestor of the goods or service to resolve a dispute.
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.
❌
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.
❌
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.
❌
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
Company Summary
The National Farmers Union Mutual Insurance Society Limited (NFU Mutual) is a UK-based insurance company that offers a variety of products and services to farmers and rural communities. The company was founded in 1910 and is owned and run by its members, making it a mutual company.
NFU Mutual's sustainability program focuses on promoting sustainable farming practices and reducing the environmental impact of agriculture. This includes supporting renewable energy projects and offering insurance cover for environmentally-friendly farming methods.
The company's products and services include insurance for farm, business, home, and motor, as well as investments and pensions. They also offer risk management services and provide guidance on health and safety regulations.
Key people at NFU Mutual include Chief Executive Lindsay Sinclair and Chairman Richard Percy. The company has over 300 local branches across the UK and employs over 3,500 staff. Their registered office address is Tiddington Road, Stratford-upon-Avon, Warwickshire, CV37 7BJ.
NFU Mutual's website, www.nfumutual.co.uk, provides information on their products and services, as well as resources for farmers and rural communities. The company also has a strong social media presence, with active accounts on Facebook, Twitter, and LinkedIn. Overall, NFU Mutual is committed to providing quality insurance services while promoting sustainability in the farming industry.
