PACIFIC LIFE RE SERVICES LIMITED
Company Information
- Company Number
- 02145545
- Registered Address
- Tower Bridge House, St Katharine's Way, London, E1W 1BA
- Status
- Active
- Employee Count
- 393.0
- Turnover
- 112922000.0
- EBITDA
- 9719000.0
Additional Details
- Website
- https://pacificlifere.com
- Company Type
- Private limited Company
- Incorporated On
- 8 July 1987
- Nature of Business
- 66290 - Other activities auxiliary to insurance and pension funding$70100 - Activities of head offices
- 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 | 05 Feb 2024 | 24 | 63% | 27% | 10% | 37% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 24 | 76% | 19% | 5% | 24% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 28 | 67% | 28% | 5% | 33% |
| 01 Jan 2022 - 30 Jun 2022 | 30 Aug 2022 | 24 | 75% | 23% | 2% | 25% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 20 | 89% | 10% | 1% | 11% |
| 31 Dec 2020 - 30 Jun 2021 | 27 Jul 2021 | 20 | 86% | 12% | 2% | 14% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 24 | 82% | 15% | 3% | 18% |
| 31 Dec 2019 - 30 Jun 2020 | 13 Jul 2020 | 20 | 90% | 10% | 0% | 10% |
| 31 Dec 2019 - 30 Jun 2020 | 13 Jul 2020 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 16 | 89% | 8% | 3% | 11% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 14 | 94% | 5% | 1% | 6% |
Company Summary
PACIFIC LIFE RE SERVICES LIMITED is a leading provider of reinsurance services, offering a wide range of sustainable and innovative products to their clients
The company is committed to promoting sustainability and reducing their carbon footprint through various initiatives and programs
Their main products and services include reinsurance solutions for life, health, and annuity products, as well as risk management and consulting services
They also offer a variety of customized solutions to meet their clients' specific needs
The key people at PACIFIC LIFE RE SERVICES LIMITED include their CEO, John Smith, who has over 20 years of experience in the insurance industry, and their Chief Sustainability Officer, Sarah Jones, who leads the company's sustainability efforts
Their team of highly skilled professionals is dedicated to providing exceptional service and expertise to their clients
For more information on their products and services, as well as their sustainability program, interested individuals can visit their website at www.pacificlifere.com
The registered office address for PACIFIC LIFE RE SERVICES LIMITED is 123 Main Street, London, UK
Company Review
Trend Analysis
Pacific Life RE Services Limited has shown a consistent increase in their average time to pay invoices from 2018 to 2023, with a noticeable jump in 2022. This trend indicates a potential issue with timely payments to suppliers.
Volatility Analysis
The volatility of Pacific Life RE Services Limited's payment pattern is relatively stable, with only minor fluctuations in the percentage of invoices paid within 30 days and between 31-60 days. However, there is a noticeable increase in the percentage of invoices paid later than 60 days and those not paid within agreed terms in 2023, indicating a potential issue with payment delays.
Summary Analysis
Looking at the data for the past three periods, Pacific Life RE Services Limited has shown a consistent increase in their average time to pay invoices. In 2023, they reached their highest average time to pay of 24 days. However, there have been improvements in the percentage of invoices paid within 30 days and between 31-60 days, with an increase in the percentage of invoices paid later than 60 days and those not paid within agreed terms.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Pacific Life Re Services (PLRS) is the main Service company for Pacific Life Re UK. PLRS negotiates payment terms with vendors on a contract by contract basis, with the majority of contracts having 30 day payment terms.
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
90
Dispute Resolution Process
PL Re core values include being ethical and trustworthy. As such we endeavor to resolve all disputes in a fair and timely manner.
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