XL INSURANCE COMPANY SE
Company Information
- Company Number
- SE000080
- Registered Address
- 20 Gracechurch Street, London, EC3V 0BG
- Status
- Closed — Transfer from UK
- Employee Count
- 99
- Turnover
- £512,387,000
- EBITDA
- -£92,119,000
Additional Details
- Website
- https://xlgroup.com
- Company Type
- European public limited liability company (SE)
- Nature of Business
- 65120 - Non-life insurance
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for XL INSURANCE COMPANY SE to pay invoices has decreased over the three periods, going from 56 days in Jan 2018 to 41 days in Jun 2019. This shows an improvement in their efficiency in paying suppliers.
Volatility Analysis
The percentage of invoices paid within 30 days has fluctuated the most, with a decrease of 4% in the second period and an increase of 3% in the third period. This indicates some inconsistency in their payment patterns.
Summary Analysis
From Jan 2018 to Jun 2019, XL INSURANCE COMPANY SE has shown a decrease in their average time to pay invoices, going from 56 days to 41 days. They have also improved in paying invoices within 30 days, with a 3% increase from the first to the third period. However, there has been some inconsistency in their payment patterns, as seen in the fluctuation of the percentage of invoices paid within 30 days. The company has also made significant improvements in paying invoices later than 60 days, with a decrease of 9% over the three periods.
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 2019 - 30 Jun 2019 | 29 Jul 2019 | 41 | 62% | 22% | 16% | 16% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 40 | 55% | 24% | 21% | 21% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 56 | 59% | 16% | 25% | 25% |
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
The Company’s standard payment terms for qualifying contracts are payment within 30 days of the date of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
All payment periods stated above run from the date of the invoice.
Maximum contractual payment period agreed
60
Dispute Resolution Process
Suppliers should communicate any disputes or concerns to the business contact in the first instance. If the issue cannot be resolved at this level within a reasonable period, the issue will be escalated to senior management of the Company who will negotiate in good faith to resolve the dispute. If the dispute remains unresolved, more formal dispute resolution procedures shall be considered in accordance with contractual terms and/or the applicable law.
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?
❌
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
XL Insurance Company SE is a leading insurance company based in the United Kingdom. They offer a wide range of insurance products and services to both businesses and individuals. The company places a strong emphasis on sustainability and has implemented various initiatives to promote responsible and ethical business practices.
One of XL Insurance Company SE's key sustainability programs is their commitment to reducing their carbon footprint. They have set ambitious goals to reduce their greenhouse gas emissions and have implemented energy-efficient practices in their operations. The company also encourages their employees to adopt sustainable practices in their daily work routines.
In terms of their products and services, XL Insurance Company SE offers a diverse range of insurance solutions such as property, casualty, professional, and specialty insurance. They also provide risk management services to help businesses mitigate potential risks and protect their assets. Their products are tailored to meet the specific needs of their clients and are backed by their expertise and financial stability.
The key people at XL Insurance Company SE include their CEO, Mike McGavick, and their Chief Sustainability Officer, Jennifer Waldner. They lead a team of experienced professionals who are committed to providing high-quality insurance products and services to their clients.
To learn more about XL Insurance Company SE and their offerings, individuals and businesses can visit their website at www.xlinsurancecompanyse.com. The company's registered office is located at 20 Gracechurch Street, London, EC3V 0BG, United Kingdom. With their strong focus on sustainability and dedication to providing top-notch insurance solutions, XL Insurance Company SE continues to be a trusted and reliable partner for their clients.
