MUNICH RE SYNDICATE LIMITED
Company Information
- Company Number
- 01328742
- Registered Address
- 1 Fen Court, London, England, EC3M 5BN
- Status
- Active
- Employee Count
- 269
- Turnover
- £63,020,000
- EBITDA
- £2,341,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 5 September 1977
- Nature of Business
- 65120 - Non-life insurance
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
MUNICH RE SYNDICATE LIMITED demonstrates a strong trend towards prompt payments, with an average payment time of just 12 days and 74% of invoices settled within 30 days. However, a significant 26% of payments are consistently made late, indicating a split trajectory where quick settlement for the majority is offset by delays for a notable minority.
Volatility Analysis
Despite the excellent average, the payment behavior exhibits some volatility due to 26% of invoices being paid late, with 8% extending beyond 60 days. This creates an unpredictable risk profile where a supplier can expect prompt payment for most transactions, but faces a substantial chance of significant delays for others, impacting cash flow reliability.
Summary Analysis
Overall, MUNICH RE SYNDICATE LIMITED offers a generally positive payment environment for suppliers, largely due to its efficient average payment time. Suppliers should, however, account for the 26% late payment rate, especially the 8% over 60 days, and consider implementing clear payment terms or tiered credit limits to mitigate potential cash flow disruptions.
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 2019 - 31 Dec 2019 | 31 Jan 2020 | 23 | 78% | 16% | 6% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 12 | 70% | 20% | 10% | 30% |
| 01 Jul 2018 - 31 Dec 2018 | 28 May 2019 | 17 | 72% | 20% | 8% | 28% |
| 01 Jan 2018 - 30 Jun 2018 | 28 May 2019 | 12 | 74% | 18% | 8% | 26% |
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
Typically aim to pay within 30 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Dispute Resolution Process
Disputes are managed by the relevant department and business unit.
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?
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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
MUNICH RE SYNDICATE LIMITED is an active private limited company operating as a syndicate within the UK's insurance and reinsurance market. As a syndicate, it specialises in underwriting reinsurance risks.
Incorporated on 5 September 1977, MUNICH RE SYNDICATE LIMITED operates as an active private limited company. Its registered office is located at 1 Fen Court, London, England, EC3M 5BN.
Companies structured as syndicates, particularly those involved in reinsurance, typically provide underwriting services for a diverse range of risks. This involves assessing, pricing, and accepting portions of insurance risks from direct insurers, thereby distributing and managing global insurance exposures.
