Capita Group PLC
09 November 2006
Capita selected by Co-operative Insurance as
Preferred Business Partner
The Capita Group Plc ('Capita') announces that it has been selected as preferred
business partner by Co-operative Insurance ('CIS'), part of Co-operative
Financial Services ('CFS') to deliver business processing activities to support
the continued growth of CIS's financial services operations.
The strategic partnership will see Capita delivering customer services, policy
administration, new business and claims activities and the associated technology
for over 5 million policies across CIS's life and pensions and unit trust
operations. Capita will also be providing a platform to enhance CIS's new
CIS has today informed its staff of this proposed partnership. Contract
negotiations are in progress with the contract expected to commence later in
2007. Subject to final scope of services, the contract is expected to be worth
in excess of £250 million over a 10 year period.
Paul Pindar, Chief Executive of Capita commented, 'We are delighted to have been
selected by CIS as their preferred business partner. The proposed partnership
will draw upon Capita's expertise across both the life & pensions and unit trust
administration markets. Our integrated operating infrastructure will not only
deliver further cost and quality benefits alongside enhanced customer service,
but will also provide a flexible platform for CIS's current and new business.
The work will continue to be delivered from CIS's existing, central Manchester
base and builds on Capita's commitment to North West England. We look forward to
fine tuning the partnership with CIS over the next few months and welcoming all
staff who transfer to Capita.'
Any resultant arrangement will be subject to FSA approval.
For further information:
The Capita Group Plc 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Press Office 0870 2400 488
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
This information is provided by RNS
The company news service from the London Stock Exchange