SUNLIFE LIMITED
Company Information
- Company Number
- 05460862
- Registered Address
- 1 Wythall Green Way, Wythall, Birmingham, B47 6WG
- Status
- Active
- Employee Count
- 100.0
- Turnover
- 73719000.0
- EBITDA
- 17219000.0
Additional Details
- Website
- https://sunlife.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 23 May 2005
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified$66220 - Activities of insurance agents and brokers$66290 - Other activities auxiliary to insurance and pension funding
- Industries
- Financial Services
- Region
- West Midlands
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 | 05 Feb 2024 | 23 | 92% | 7% | 1% | 8% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 23 | 96% | 4% | 0% | 4% |
| 01 Jul 2022 - 31 Dec 2022 | 03 Feb 2023 | 30 | 93% | 5% | 1% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Aug 2022 | 24 | 97% | 3% | 0% | 3% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Feb 2022 | 24 | 97% | 2% | 1% | 3% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 23 | 96% | 3% | 1% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 21 | 95% | 4% | 1% | 1% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 23 | 96% | 3% | 1% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 22 | 95% | 4% | 1% | 6% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 21 | 95% | 4% | 1% | 5% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 19 | 95% | 5% | 0% | 5% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 30 | 79% | 17% | 5% | 36% |
Company Summary
SUNLIFE LIMITED is a multinational company that specializes in providing financial and insurance services
The company is committed to sustainability and has a strong focus on environmental, social, and governance (ESG) practices
The company offers a wide range of insurance products such as life, health, and retirement plans to individuals and businesses
They also provide investment solutions and asset management services to their clients
Under their sustainability program, SUNLIFE LIMITED has set ambitious targets to reduce their carbon footprint, use renewable energy sources, and promote diversity and inclusion within their workforce
They also have various initiatives to support local communities and promote responsible investing
The key people at SUNLIFE LIMITED include the CEO, CFO, and other senior executives who are responsible for driving the company's growth and sustainability efforts
To contact SUNLIFE LIMITED, individuals can visit their website at www.sunlife.com or reach them at their registered office address: Sun Life Financial, PO Box 2017 STN Waterloo, Waterloo, ON N2J 0A6, Canada
In conclusion, SUNLIFE LIMITED is a leading financial and insurance company with a strong commitment to sustainability
Through their products and services, they aim to provide financial security to their clients while also promoting responsible and ethical business practices
Company Review
Trend Analysis
The trend for SUNLIFE LIMITED in terms of average time to pay has been increasing over the past 3 periods, with a 6% increase from 2018 to 2023. However, the company has consistently maintained a high percentage of invoices paid within 30 days, with a slight decrease of 4% from 2018 to 2023. The percentage of invoices paid between 31 and 60 days has also remained relatively stable, with only a 2% decrease from 2018 to 2023. The most significant change has been in the percentage of invoices paid later than 60 days, with a 2% increase from 2018 to 2023.
Volatility Analysis
The volatility for SUNLIFE LIMITED has been relatively low, with only small changes in the percentages of invoices paid within 30 days and between 31 and 60 days. The most volatile aspect has been the percentage of invoices paid later than 60 days, with a 2% increase from 2018 to 2023.
Summary Analysis
From 2018 to 2023, SUNLIFE LIMITED has seen an increase in the average time to pay invoices by 7 days. However, the company has consistently maintained a high percentage of invoices paid within 30 days at around 95%. The percentage of invoices paid between 31 and 60 days has also remained stable at around 4%. The most significant change has been in the percentage of invoices paid later than 60 days, with a 2% increase from 2018 to 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The business' standard payment terms are for all undisputed invoices to be paid within 30 days of receipt. The maximum contractual payment period is 30 days from the receipt of an invoice and there have been no changes to the business' standard payment terms in the reporting period. Sunlife pay in line with variable contracted terms, in the vast majority of cases this is 30 days from the date of invoice but there are differing terms in place with different suppliers. We will agree to shorter terms if the contractual negotiations require it.
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
Phoenix has a dispute resolution process for staff to follow should a query or dispute of an invoice arise, which is published on the intranet. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes.
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
