Industry ranking
Score of 83.8/100 qualifies for PaymentCheck Certification
| 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 2025 - 30 Jun 2025 | 23 Jul 2025 | 23 | 87% | 11% | 2% | 38% |
| 01 Jul 2024 - 31 Dec 2024 | 21 Jan 2025 | 25 | 84% | 14% | 2% | 42% |
| 01 Jan 2024 - 30 Jun 2024 | 31 Jul 2024 | 24 | 84% | 13% | 3% | 39% |
| 01 Jul 2023 - 31 Dec 2023 | 25 Jan 2024 | 26 | 80% | 16% | 4% | 44% |
| 01 Jul 2022 - 31 Dec 2022 | 17 Jan 2023 | 27 | 72% | 25% | 4% | 58% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 33 | 60% | 30% | 10% | 65% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 19 | 89% | 8% | 4% | 48% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 22 | 83% | 11% | 6% | 59% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 16 | 93% | 5% | 1% | 41% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 17 | 94% | 4% | 2% | 26% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 16 | 93% | 6% | 1% | 29% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 13 | 95% | 4% | 1% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 9 | 98% | 2% | 0% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
First Central Insurance Management Ltd's (FCIM) standard payment terms are 30 days from the date of the invoice. The maximum contractual payment period of any qualifying contract is 30 days. There have been no changes to FCIM's standard payment terms during the submission period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
We aim to deal with complaints at first notification and avoid escalations wherever possible. All initial concerns should be sent to Finance_Ops@first-central.com so these can be investigated. Any disputes are dealt with by the Finance Operations team and supported by any contacts in the business who hold a relationship with the supplier.
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
First Central Insurance Management Limited is registered under the insurance agents and brokers classification (SIC 66220) and forms part of First Central Group, a UK-based insurer and data-focused business with offices in Haywards Heath, Manchester, Guernsey and Gibraltar. The wider group operates as an insurer and innovator in data, employing staff across underwriting, claims, pricing, technology and operations functions. This entity's own role sits within the group's insurance management activities rather than as a standalone consumer-facing brand. Group brands trading in the UK include 1st Central, which is used by a separate group subsidiary for underwriting and servicing motor insurance policies.
Generated from the company's website and Companies House records. Sources: firstcentralcareers.com · firstcentralcareers.com