LV INSURANCE MANAGEMENT LIMITED
Company Information
- Company Number
- 05636081
- Registered Address
- 57 Ladymead, Guildford, Surrey, England, GU1 1DB
- Status
- Active
- Employee Count
- 0
- Turnover
- £14,399,000
- EBITDA
- £13,891,000
Additional Details
- Website
- https://lv.com
- Company Type
- Private limited Company
- Incorporated On
- 25 November 2005
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- Financial Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for LV INSURANCE MANAGEMENT LIMITED to pay invoices has fluctuated over the past three periods. It decreased from 21 days in Jan-Jun 2018 to 26 days in Jul-Dec 2018, then increased to 34 days in Jan-Jun 2019, and further increased to 38 days in Jul-Dec 2019. However, in the most recent period (Jan-Jun 2020), the average time taken to pay invoices has significantly decreased to 17 days.
Volatility Analysis
The company has shown volatility in their payment processes, with a difference of 17 days between their shortest (or only) standard payment period of 30 days and their longest average payment time of 38 days in Jul-Dec 2019. However, in the most recent period (Jan-Jun 2020), the volatility has decreased to only 13 days between their shortest standard payment period of 30 days and their average time taken to pay invoices of 17 days.
Summary Analysis
From Jan-Jun 2018 to Jul-Dec 2019, there has been an overall increase in the average time taken for LV INSURANCE MANAGEMENT LIMITED to pay invoices, with the highest average time of 38 days in Jul-Dec 2019. However, in the most recent period (Jan-Jun 2020), there has been a significant improvement with the average time decreasing to 17 days.
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 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 17 | 94% | 5% | 1% | 7% |
| 01 Jul 2019 - 31 Dec 2019 | 17 Jan 2020 | 38 | 65% | 25% | 10% | 38% |
| 01 Jan 2019 - 30 Jun 2019 | 11 Jul 2019 | 34 | 76% | 16% | 8% | 25% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 26 | 89% | 6% | 4% | 16% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 21 | 92% | 6% | 2% | 14% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard terms confirm the supplier will be paid within 30 days of receipt of a valid undisputed invoice unless otherwise agreed and stated in the order.
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
60
Dispute Resolution Process
If we dispute any item in an invoice, we aim to inform the supplier promptly of the disputed item and work with them to (1) explain why the invoice has been disputed; and (2) reach a mutually acceptable outcome. Suppliers are encouraged to contact their point of reference in the business to resolve any disputed work or invoices.
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
Company Summary
LV Insurance Management Limited is a British insurance company that offers a wide range of insurance products and services. The company was founded in 1843 and is headquartered in Bournemouth, United Kingdom.
The company's sustainability program is focused on reducing its environmental impact and promoting responsible business practices. This includes initiatives such as using renewable energy sources, reducing paper waste, and promoting sustainable transportation options for employees.
LV Insurance Management Limited offers a variety of insurance products including car, home, pet, travel, and life insurance. They also provide investment and retirement planning services.
The key people at LV Insurance Management Limited include Mark Hartigan, the CEO, and Martin Milliner, the Managing Director of General Insurance. Both have extensive experience in the insurance industry and are committed to providing quality products and services to their customers.
The company can be contacted through their website, which also provides online quotes and claims services. Their registered office address is 69 Park Lane, Croydon, CR9 1BG, United Kingdom.
In summary, LV Insurance Management Limited is a reputable insurance company in the UK with a strong focus on sustainability. They offer a wide range of insurance products and services and are led by experienced individuals. Their commitment to responsible business practices makes them a top choice for customers looking for insurance solutions.
