TESCO UNDERWRITING LIMITED
Company Information
- Company Number
- 06967289
- Registered Address
- The Omnibus Building, Lesbourne Road, Reigate, Surrey, United Kingdom, RH2 7LD
- Status
- Active
- Employee Count
- 338
- Turnover
- £170,100,000
- EBITDA
- £46,400,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 20 July 2009
- Nature of Business
- 65120 - Non-life insurance
- Industries
- Financial Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 Sept 2024 - 28 Feb 2025 | 25 Mar 2025 | 15 | 98% | 1% | 1% | 2% |
| 01 Sept 2023 - 29 Feb 2024 | 28 Mar 2024 | 20 | 95% | 3% | 2% | 5% |
| 01 Mar 2023 - 31 Aug 2023 | 28 Sept 2023 | 19 | 93% | 4% | 3% | 7% |
| 01 Sept 2022 - 28 Feb 2023 | 29 Mar 2023 | 20 | 81% | 15% | 4% | 19% |
| 01 Mar 2022 - 31 Aug 2022 | 03 Oct 2022 | 18 | 91% | 8% | 1% | 9% |
| 01 Jul 2021 - 28 Feb 2022 | 31 Mar 2022 | 18 | 95% | 4% | 2% | 5% |
| 01 Jul 2020 - 31 Dec 2020 | 10 Jan 2021 | 11 | 96% | 3% | 1% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Jul 2019 | 15 | 96% | 3% | 1% | 4% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 14 | 96% | 3% | 1% | 4% |
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 payment terms are typically 30 days from the invoice date. However depending on the company's policies and agreement, it can be up to 60 days. We aim to process all the payments within the agreed terms to maintain positive relationship with our suppliers.
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
0
Dispute Resolution Process
If it has been flagged that payment has not been made within 30 days, this is then raised as a priority with the operational manager to investigate the reason. After the investigation has taken place, either the payment is made immediately, or a response is returned to the person making the complaint to explain why a payment has not been made and what the next steps will be.
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
TESCO UNDERWRITING LIMITED is a financial services company based in the United Kingdom. It is a subsidiary of the retail giant, Tesco PLC. The company operates as an insurance underwriter, providing a range of insurance products and services to its customers.
One of the key focuses of TESCO UNDERWRITING LIMITED is sustainability. The company is committed to conducting its business operations in an environmentally and socially responsible manner. As part of this commitment, the company has implemented various sustainability initiatives, such as reducing its carbon footprint, promoting recycling and waste reduction, and supporting local communities through charitable donations and volunteering.
TESCO UNDERWRITING LIMITED offers a variety of insurance products, including car, home, pet, and travel insurance. They also provide additional services such as breakdown cover and legal protection. The company prides itself on its competitive pricing and excellent customer service, with a dedicated team of insurance experts available to assist customers with their insurance needs.
The company's key people include its CEO, Alan Williams, and its Executive Director, David Williams. Both have extensive experience in the insurance industry and are committed to driving the company's sustainability efforts.
To contact TESCO UNDERWRITING LIMITED, customers can visit their website at www.tescounderwriting.com. The company's registered office address is Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, Hertfordshire, AL7 1GA. Customers can also reach out to the company through their customer service hotline, which is available 24/7.
