Capita Group PLC
16 August 2006
CAPITA SIGNS CONTRACT TO PROVIDE LIFE & PENSIONS SALES AND ADMINISTRATION
SERVICES FOR PRUDENTIAL
The Capita Group Plc ('Capita') announces that it has signed an outsourcing
contract with Prudential UK ('Prudential') to deliver a range of life and
pension sales and administration services. The contract is projected to generate
revenues to Capita of approximately £40 million over the 3 year term of the
contract, after which Prudential have an option to renew on a rolling basis.
The contract builds on Capita's existing track record of delivering services for
Prudential. Capita has been successfully providing a full range of life and
pensions administration services for Prudential's international cross border
life assurance portfolio of new and existing business since 2003.
Under the agreement, Capita will deliver end-to-end support for Prudential's UK
Life and Pensions operations. Approximately 450 staff working in Prudential's
Customer Services, PruDirect (Direct-to-Consumer) and Support Services
operations in Belfast will transfer to Capita under Transfer of Undertakings
(Protection of Employment) Regulations (TUPE) in early Autumn 2006.
The agreement further strengthens Capita's presence in Belfast where it already
provides services for the BBC and the Northern Ireland Civil Service.
Paul Pindar, Chief Executive of Capita said: 'We are delighted to have this
opportunity to further support Prudential by playing a key role in the
development and success of its UK Life & Pensions business. The contract
significantly expands our Life & Pensions business and reinforces our position
as a leader in delivering outsourced solutions in this market. We welcome all
the Prudential staff who will transfer with the contract to Capita and we are
excited about the opportunities to continue expanding our business in Belfast.'
Nick Prettejohn, Chief Executive of Prudential UK, said: 'This has been a very
difficult time for all our staff in Belfast but throughout this period, they
have continued to provide an excellent service to our customers. This
outsourcing agreement helps provide them with continued employment and enables
us to maintain the highest standards of customer service while delivering the
efficiencies and cost savings we announced earlier in the year. We are delighted
to have selected Capita as our outsourcing partner and look forward to working
Prudential's Belfast operation currently handles a range of services including
death claims, matured and surrendered policies and general UK customer support.
It also provides a direct-to-customer telephone sales operation.
For further information please contact:
The Capita Group Plc +44 (0) 207 799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Press Office +44 (0) 870 2400 488
Steve Colton +44 (0) 207 150 3136 or 07771 531525
Anthony Frost +44 (0) 207 150 3001 or 07786 967649
Citigate SMARTS, Belfast
Alan Watson Tel: 028 9039 5500 or 07768 798 148
Notes to Editors:
The Capita Group Plc is the UK's leading provider of integrated professional
support service solutions. The Group's service capabilities encompass customer
services, financial services, human resource services, software services,
systems and strategic support and property services delivered to both public
sector and private organisations.
With over 26,000 employees at more than 250 offices across the UK and Ireland,
Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of
the FTSE100 with revenues for 2005 of £1,436 million. Further information on The
Capita Group Plc can be found at www.capita.co.uk
Prudential is a leading life and pensions provider to approximately 7 million
customers in the United Kingdom. As at 30 June 2006, it had approximately 6,930
full-time staff, offices located in London, Reading, Belfast, Dublin, Bristol
and Stirling, and a customer service centre in Mumbai.
Products: Bulk and Individual Annuities, Corporate Pensions, With-Profits and
Unit-Linked Bonds, Savings and Investments, Lifetime Mortgages, Healthcare and
Distribution Channels: PruDirect (Direct-to-Consumers via telephone, internet
and mail), Financial Advisers, Business-to-Business (consulting actuaries and
benefit advisers), and Partnerships (affinities and banks).
Today's announcement does not in any way affect the operations of Prudential
International in Dublin.
This information is provided by RNS
The company news service from the London Stock Exchange