HISCOX UNDERWRITING GROUP SERVICES LIMITED
Company Information
- Company Number
- 04137419
- Registered Address
- 22 Bishopsgate, London, United Kingdom, EC2N 4BQ
- Status
- Active
- Employee Count
- 1650.0
- Turnover
- 356859000.0
- EBITDA
- 2858000.0
Additional Details
- Website
- https://hiscox.com
- Company Type
- Private limited Company
- Incorporated On
- 9 January 2001
- Nature of Business
- 94110 - Activities of business and employers membership organisations
- Industries
- Professional Services
- Region
- London
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 | 13 | 94% | 5% | 1% | 6% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Jul 2023 | 13 | 93% | 6% | 1% | 7% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 15 | 91% | 7% | 2% | 11% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 20 | 87% | 8% | 5% | 13% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 16 | 91% | 7% | 2% | 9% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 18 | 88% | 8% | 4% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 16 | 89% | 8% | 3% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 15 Jul 2020 | 26 | 78% | 19% | 3% | 22% |
| 01 Jul 2019 - 31 Dec 2019 | 16 Jan 2020 | 23 | 67% | 20% | 12% | 32% |
| 01 Jan 2019 - 30 Jun 2019 | 15 Jul 2019 | 23 | 89% | 8% | 3% | 11% |
Company Summary
HISCOX UNDERWRITING GROUP SERVICES LIMITED is a leading insurance company based in the United Kingdom
It offers a wide range of insurance products and services to individuals and businesses
One of the key focus areas of HISCOX UNDERWRITING GROUP SERVICES LIMITED is sustainability
The company has a sustainability program in place to reduce its environmental impact and promote sustainable practices
This includes initiatives such as reducing paper usage, promoting recycling, and investing in renewable energy sources
In terms of products and services, HISCOX UNDERWRITING GROUP SERVICES LIMITED offers various types of insurance, including property, casualty, and specialty insurance
It also offers cyber insurance, professional indemnity insurance, and marine insurance
The key people at HISCOX UNDERWRITING GROUP SERVICES LIMITED include Bronek Masojada, the CEO, and Colin Keogh, the CFO
They are both highly experienced and lead the company with a focus on innovation and customer satisfaction
For those interested in contacting HISCOX UNDERWRITING GROUP SERVICES LIMITED, the company's website is https://www.hiscoxgroup.com/
The registered office address is 1 Great St Helen's, London, EC3A 6HX, United Kingdom
In summary, HISCOX UNDERWRITING GROUP SERVICES LIMITED is a reputable insurance company with a strong focus on sustainability
It offers a variety of insurance products and services and is led by experienced individuals
Their website and registered office address are easily accessible for those looking to learn more about the company or get in touch with them
Company Review
Trend Analysis
The average time for HISCOX UNDERWRITING GROUP SERVICES LIMITED to pay invoices has been decreasing over the past three periods, with a noticeable drop in the most recent period.
Volatility Analysis
The percentage of invoices paid within 30 days has remained relatively stable, with a slight increase in the most recent period. The percentage of invoices paid between 31 and 60 days has also remained consistent, with a slight decrease in the most recent period. However, the percentage of invoices paid later than 60 days has been fluctuating, with a significant decrease in the most recent period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Hiscox standard payment terms are 30 days from receipt of the invoice.
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
Disputes are notified to the Accounts Payable team at AccountsPayable@Hiscox.com. They are investigated within 14 working days and resolved directly with the supplier and any named Hiscox contact as required. Where relevant, disputes can be escalated or notified to the Group Finance director. A record of all disputes and there resolution are maintained for future reference.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
