LEGAL AND GENERAL ASSURANCE SOCIETY LIMITED
Company Information
- Company Number
- 00166055
- Registered Address
- One Coleman Street, London, EC2R 5AA
- Status
- Active
- Employee Count
- 0
- Turnover
- £1,086,000,000
- EBITDA
- £727,000,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 1 April 1920
- Nature of Business
- 65110 - Life insurance
- Industries
- Financial Services, Professional Services
- Region
- London
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 Jan 2021 - 30 Jun 2021 | 24 Sept 2021 | 29 | 91% | 6% | 3% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 24 Sept 2021 | 30 | 92% | 5% | 3% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 05 Jul 2019 | 14 | 94% | 4% | 2% | 2% |
| 01 Jul 2018 - 31 Dec 2018 | 05 Jul 2019 | 14 | 93% | 5% | 2% | 2% |
| 01 Jan 2018 - 30 Jun 2018 | 28 Jul 2018 | 9 | 98% | 1% | 1% | 2% |
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
5 / 14 / 28 days - standard length is 30 days for most suppliers
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
n/a
Maximum contractual payment period agreed
30
Dispute Resolution Process
Divisional contacts within the business liaise directly with suppliers to resolve issues, with Accounts Payable being the main contact for queries regarding unpaid invoices / late payment etc.
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
Legal and General Assurance Society Limited (L&G) is a British insurance company that provides a range of financial products and services. The company was founded in 1836 and is headquartered in London, with operations in the UK, US, and Europe.
One of L&G's key activities is providing life insurance, including term life, whole life, and critical illness cover. They also offer pension plans, investment products, and general insurance such as home and car insurance. In addition, L&G has a large asset management division, managing investments for both individuals and institutions.
L&G is committed to sustainability and has a strong sustainability program in place. They have set ambitious targets to reduce their carbon footprint, increase their renewable energy usage, and improve their waste management practices. They also have a focus on promoting diversity and inclusion within their workforce.
The company's key people include Nigel Wilson, Group CEO, and Jeff Davies, Group CFO. L&G has a team of over 9,000 employees who are dedicated to providing excellent customer service and delivering sustainable growth for the company.
For customer inquiries, L&G can be contacted through their website or by phone. Their website, www.legalandgeneral.com, provides information about their products and services, as well as an online portal for managing policies and investments. Their registered office address is One Coleman Street, London EC2R 5AA, United Kingdom.
In summary, Legal and General Assurance Society Limited is a leading insurance company in the UK, offering a wide range of financial products and services. They are committed to sustainability and have a strong focus on diversity and inclusion within their company. With a dedicated team and a strong online presence, L&G is well-equipped to serve its customers and continue its growth in the financial services industry.
