ZURICH ASSURANCE LTD
Company Information
- Company Number
- 02456671
- Registered Address
- Unity Place, 1 Carfax Close, Swindon, Wiltshire, United Kingdom, SN1 1AP
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 425000000.0
- EBITDA
- -102000000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 2 January 1990
- Nature of Business
- 65110 - Life insurance
- Industries
- Financial Services
- Region
- South West
Company Location
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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 | 31 Jan 2024 | 20 | 89% | 7% | 4% | 14% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 20 | 90% | 6% | 4% | 8% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 19 | 89% | 8% | 3% | 11% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 19 | 90% | 7% | 3% | 8% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 18 | 92% | 6% | 2% | 7% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 16 | 95% | 2% | 3% | 5% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 16 | 94% | 5% | 1% | 6% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 16 | 98% | 1% | 1% | 5% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 15 | 98% | 1% | 1% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 22 Jul 2019 | 16 | 95% | 4% | 1% | 4% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 16 | 95% | 4% | 1% | 5% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 16 | 95% | 4% | 1% | 5% |
Company Summary
Zurich Assurance Ltd is a leading insurance company based in the United Kingdom
The company provides a wide range of insurance products and services to individuals and businesses
Sustainability is at the core of Zurich Assurance Ltd's operations, and the company has implemented various initiatives to reduce its environmental impact
This includes using renewable energy sources, promoting sustainable transportation, and reducing waste and carbon emissions
The company offers a range of insurance products, including life insurance, home insurance, travel insurance, and business insurance
Their services also include risk management solutions for businesses, such as cyber risk management and employee benefits
Zurich Assurance Ltd has a team of experienced and dedicated professionals who are committed to providing excellent customer service and helping clients protect their assets
The company's key people include the CEO, Mario Greco, and the Chairman, Thomas Buess
For more information on their products and services, customers can visit the company's website at www.zurich.co.uk
The registered office address for Zurich Assurance Ltd is The Grange, Bishops Cleeve, Cheltenham, Gloucestershire, GL52 8XX, United Kingdom
In conclusion, Zurich Assurance Ltd is a reputable insurance company that prioritizes sustainability and offers a wide range of insurance products and services to cater to the needs of its clients
With a strong team of professionals and a commitment to customer satisfaction, the company continues to be a trusted choice for insurance solutions in the UK
Company Review
Trend Analysis
The average time taken for Zurich Assurance Ltd to pay invoices has remained relatively consistent at 16 days between 2018 and 2020. However, there was a slight increase to 18 days in 2021 and a further increase to 20 days in 2022 and 2023.
Volatility Analysis
The data for Zurich Assurance Ltd shows relatively low volatility in terms of the average time taken to pay invoices and the percentage of invoices paid within 30 days. These figures have remained relatively consistent over the three-year period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The team process high volumes of invoices. Supplier contract terms are not held on the system database. An assumption has been made that the standard contractual length of time for payment of invoices is 30 days (being the most frequently used payment terms) for qualifying contracts)
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
Supplier complaints/concerns should be made in writing to the individual responsible for the contract instruction who will consider the dispute and respond to the Supplier as quickly as possible.
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
