SANTANDER INSURANCE SERVICES UK LIMITED
Company Information
- Company Number
- 01492302
- Registered Address
- 2 Triton Square, Regent's Place, London, NW1 3AN
- Status
- Active
- Employee Count
- 29
- Turnover
- £61,767,000
- EBITDA
- £315,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 21 April 1980
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data shows a fluctuating trend in the average time taken for SANTANDER INSURANCE SERVICES UK LIMITED to pay their invoices. In 2018, the average time was 21 days, which increased to 26 days in the second half of the year. However, in 2019, there was a significant decrease in the average time to 13 days. This trend continued in the first half of 2020, with an increase to 24 days, but then a sharp decrease to 10 days in the second half of the year. In 2021, there was a slight increase to 15 days, followed by a decrease to 7 days in the second half of the year. In the first half of 2022, there was another increase to 17 days, followed by a decrease to 13 days in the second half of the year. The trend seems to be fluctuating, but overall, there is a decrease in the average time taken to pay invoices.
Volatility Analysis
The data also shows volatility in the percentage of invoices paid within 30 days. In the first half of 2018, 86% of invoices were paid within 30 days, which decreased to 84% in the second half of the year. In 2019, there was a significant increase to 92%, followed by a further increase to 98% in the second half of the year. However, in the first half of 2020, there was a decrease to 75%, followed by an increase to 96% in the second half of the year. In 2021, there was a slight decrease to 87%, followed by an increase to 95% in the second half of the year. In the first half of 2022, there was another decrease to 86%, followed by an increase to 96% in the second half of the year. The data shows volatility in these percentages, but there is an overall increase in the percentage of invoices paid within 30 days.
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 2023 - 30 Jun 2023 | 18 Aug 2023 | 22 | 79% | 7% | 14% | 21% |
| 01 Jul 2022 - 31 Dec 2022 | 16 Feb 2023 | 13 | 96% | 0% | 4% | 4% |
| 01 Jan 2022 - 30 Jun 2022 | 02 Aug 2022 | 17 | 86% | 14% | 0% | 18% |
| 01 Jul 2021 - 31 Dec 2021 | 09 Feb 2022 | 7 | 95% | 5% | 0% | 5% |
| 01 Jan 2021 - 30 Jun 2021 | 02 Aug 2021 | 15 | 87% | 13% | 0% | 13% |
| 01 Jul 2020 - 31 Dec 2020 | 08 Feb 2021 | 10 | 96% | 2% | 2% | 4% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 24 | 75% | 10% | 15% | 25% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 13 | 98% | 0% | 2% | 2% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 13 | 92% | 8% | 0% | 8% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Feb 2019 | 26 | 84% | 10% | 6% | 16% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 21 | 86% | 9% | 6% | 14% |
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
Santander Insurance Services UK Limited payment terms are 30 days. There are no contracts for which there are longer payment terms and there have been no changes to this arrangement in the period.
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
If a supplier has a dispute regarding payment, there is an established escalation and investigation process in place. Should the supplier remain unhappy at the outcome of the initial escalation and investigation, they can refer the matter to an independent body. Information regarding this process is included in the standard contract terms.
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
SANTANDER INSURANCE SERVICES UK LIMITED is a leading insurance company in the United Kingdom, providing a wide range of insurance products and services. The company is committed to sustainability and has a strong focus on environmental, social, and governance (ESG) practices.
The company offers a variety of insurance products, including home, car, travel, life, and pet insurance. They also provide financial protection for businesses and offer pension plans, investment options, and retirement solutions. Their insurance policies are designed to meet the diverse needs of their customers and provide them with peace of mind.
SANTANDER INSURANCE SERVICES UK LIMITED has a dedicated sustainability program that aims to reduce their environmental impact, promote social responsibility, and ensure good governance practices. They have implemented various initiatives to reduce their carbon footprint, such as using renewable energy sources and promoting paperless operations. The company also supports various community projects and charities through their corporate social responsibility (CSR) efforts.
The key people at SANTANDER INSURANCE SERVICES UK LIMITED include the CEO, Ana Botín, and the Chairman, Shriti Vadera. They have a team of experienced professionals who are committed to providing excellent customer service and driving the company's sustainability efforts.
To contact SANTANDER INSURANCE SERVICES UK LIMITED, customers can visit their website at https://www.santander.co.uk/insurance or call their customer service hotline at 0800 068 8444. The company's registered office address is 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom.
In summary, SANTANDER INSURANCE SERVICES UK LIMITED is a reputable insurance company in the UK, offering a range of products and services to meet the needs of their customers. They are committed to sustainability and have implemented various initiatives to reduce their environmental impact and promote social responsibility. With experienced leadership and a strong focus on CSR, the company continues to be a trusted and responsible player in the insurance industry.
