BEAZLEY MANAGEMENT LIMITED
Company Information
- Company Number
- 05016918
- Registered Address
- 22 Bishopsgate, London, United Kingdom, EC2N 4BQ
- Status
- Active
- Employee Count
- 938.0
- Turnover
- 299200000.0
- EBITDA
- 11300000.0
Additional Details
- Website
- https://beazley.com
- Company Type
- Private limited Company
- Incorporated On
- 15 January 2004
- Nature of Business
- 65120 - Non-life insurance$65202 - Non-life reinsurance
- Industries
- Financial 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 | 30 Jan 2024 | 21 | 81% | 14% | 5% | 19% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 22 | 80% | 13% | 7% | 22% |
| 01 Jul 2022 - 31 Dec 2022 | 29 Jan 2023 | 21 | 83% | 12% | 5% | 21% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 22 | 84% | 11% | 5% | 20% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Jan 2022 | 23 | 84% | 10% | 6% | 19% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 26 | 77% | 16% | 7% | 10% |
| 01 Jul 2020 - 31 Dec 2020 | 20 Jan 2021 | 28 | 76% | 15% | 9% | 9% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Jul 2020 | 28 | 75% | 16% | 9% | 12% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 26 | 77% | 15% | 8% | 27% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 29 | 78% | 12% | 10% | 24% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 31 | 76% | 14% | 10% | 25% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 30 | 81% | 11% | 7% | 18% |
Company Summary
BEAZLEY MANAGEMENT LIMITED is a leading insurance and reinsurance company based in London, United Kingdom
The company was founded in 1986 and has established itself as a trusted and reputable name in the industry
The company offers a wide range of insurance and reinsurance products and services, including property, casualty, marine, and specialty lines
They cater to various sectors such as commercial, healthcare, technology, and marine industries
BEAZLEY MANAGEMENT LIMITED is committed to sustainability and has implemented various initiatives to reduce their carbon footprint and promote environmental responsibility
They have a sustainability program in place that focuses on reducing waste, conserving energy, and promoting sustainable practices within their operations
The company is led by a team of experienced and knowledgeable professionals, including Andrew Horton as the CEO and Adrian Cox as the Chairman
They have a strong commitment to ethical business practices and providing excellent customer service
In terms of contact information, BEAZLEY MANAGEMENT LIMITED can be reached through their website at www.beazley.com
Their registered office address is Plantation Place, 30 Fenchurch Street, London, EC3M 3BY, United Kingdom
Overall, BEAZLEY MANAGEMENT LIMITED is a reputable and sustainable insurance and reinsurance company with a strong focus on delivering quality products and services to their clients
Their commitment to sustainability and ethical business practices sets them apart in the industry
Company Review
Trend Analysis
The data for BEAZLEY MANAGEMENT LIMITED shows a consistent decrease in the average time taken to pay invoices over the past three periods. The company has also shown an improvement in paying invoices within 30 days and a decrease in paying invoices later than 60 days. However, there has been an increase in the percentage of invoices paid between 31 and 60 days in the most recent period.
Volatility Analysis
The data for BEAZLEY MANAGEMENT LIMITED shows a relatively stable trend in the average time taken to pay invoices over the past three periods. The company has also shown a consistent decrease in the percentage of invoices paid later than 60 days. However, there has been some volatility in the percentage of invoices paid within 30 days and between 31 and 60 days, with some fluctuations in the most recent period.
Summary Analysis
BEAZLEY MANAGEMENT LIMITED has consistently decreased the average time taken to pay invoices over the past three periods, with the most recent period showing the lowest average time of 21 days. The company has also shown an improvement in paying invoices within 30 days, with the most recent period showing the highest percentage of 84%. However, there has been an increase in the percentage of invoices paid between 31 and 60 days in the most recent period, with a decrease in paying invoices later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
These payment terms are not published on our website. Our payment terms are generally 30 days from invoice tax point based on the timely submission of satisfactory invoices. Payment terms are negotiated according to the context of the services / software or goods being purchased based on risk, discount and / or commercial factors. The payment terms are reviewed as part of the overall contract review and will form part of the negotiation process with input from the business stakeholders as well as legal and commercial. Some of our suppliers will submit invoices on their own payment terms which may differ from ours. Where a supplier's payment terms are less than our standard net 30 days, we use our best endeavours to pay such invoices according to that supplier's 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
120
Dispute Resolution Process
Beazley’s Commercial Management team deals with disputes about payments by working with the Contract Owner of the commodity who is responsible to resolve the complaint. Generally, the standard terms and conditions for each supplier agreement outlines dispute resolution provisions which dictate the manner and timeline in which a complaint needs to be resolved. Commercial Management maintains the log of complaints and all are reported by them in its annual update to the Operations Committee.
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
