Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • Investegate.co.uk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com
  • FETransmission.com
  • Trustnet.hk
  • FEAnalytics.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Capita Group PLC (CPI)

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Wednesday 28 November, 2007

Capita Group PLC

Prudential Contract

Capita Group PLC
28 November 2007



28 November 2007

                      CAPITA SELECTED BY PRUDENTIAL UK
                      AS STRATEGIC OUTSOURCING PARTNER

  • £722 million, 15 year contract to deliver annual savings of £60 million to 
    Prudential by 2010

  • Capita's offshore operations more than doubled through acquisition in Mumbai

The Capita Group Plc ('Capita') announces that it has today signed a contract to
become a strategic outsourcing partner of Prudential UK ('Prudential'), to
administer 7 million mature life and pensions policies including group and
individual pensions, investment bonds and life and endowment policies. The
contract is worth approximately £722 million over 15 years.

Capita will provide customer servicing, policy administration, new business
processing, claims activity and related IT support to Prudential UK. Under the
terms of the agreement, the detail of which is subject to a collective
consultation process, approximately 1,750 Prudential staff working in the UK,
1000 in Craigforth and 750 in Reading, will transfer to Capita under the
Transfer of Undertakings (Protection of Employment) Regulations (TUPE) in April
2008.

As a key element of the deal, Capita will acquire business and assets from
Prudential, for a consideration of £25 million, including part of the business
of PPMS, Prudential's offshore operation based in Mumbai, involving the transfer
of 1,250 staff. Although TUPE does not apply in India, all affected employees
will transfer in the spirit of the legislation, ensuring protection of their
existing terms and conditions.

£100 million of the deal is an investment by Prudential UK, over six years, to
fund a transformation programme. The programme will deliver enhanced customer
service through a substantial simplification of policy administration processes
and migration of in-force and new business policies from Prudential's legacy IT
systems to two Capita platforms.

Paul Pindar, Chief Executive of The Capita Group commented: 'Capita is delighted
to engage in this strategic alliance with Prudential UK. Our aim is to build a
mutually beneficial partnership to support the further growth of both Prudential
and Capita in the life and pensions industry. We look forward to working with
Prudential to deliver high quality outsourced support and welcoming all
transferring staff to the Capita Group's thriving life and pensions business.

'We are committed to expansion in both the UK life and pensions market and our
Indian operations to meet increasing demand. The operations and employees that
will transfer to Capita under this agreement will allow us to take a significant
step forward with these ambitions. The Craigforth operation will be developed
into a centre of excellence for life and pensions administration. The Reading
operation will initially continue to be delivered from its current site while we
investigate the feasibility of combining it with our operations in Cheltenham or
Swindon or from an alternative site in Reading. And in Mumbai the combination of
our increased scale and capability will provide a market leading offshoring base
from which to support our plans across the broad range of our service 
offerings.'

Nick Prettejohn, Chief Executive, Prudential UK & Europe said: 'The agreement
with Capita is another significant milestone in our programme to deliver
continued superior performance and profitability in our UK business. We have set
out very clear priorities for the business and this agreement helps us to
deliver our strategy by removing fixed costs from our operations and achieving
significant operating efficiencies. It will allow us to concentrate on using our
competitive strengths and proven capabilities to realise the attractive
opportunities in the market for retirement savings and income.

'After detailed analysis of a number of potential options, it was clear that
Capita best enables us to deliver continued high levels of customer service
while providing ongoing certainty over costs. They are a partner with a proven
record of high standards of service for customers and advisers, IT delivery and
support while also offering the best overall employment solution for our staff.'

Capita provides core administrative support to a number of UK and overseas life
and pensions companies, including the Children's Mutual, Lincoln Financial
Group, Resolution, Zurich and Co-operative Financial Services. Including this
agreement, Capita Life & Pensions will be responsible for administering
approximately 23 million policies.

Capita already delivers a range of life and pension sales and administration
services for Prudential UK's business. Prudential and Capita signed an
outsourcing agreement in 2006 under which Capita delivers end-to-end support for
Prudential's UK life and pensions operations from Prudential's Belfast
operation. Capita has also 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.

                                     -ends-

For further information:

The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director

Capita press office
Caroline Mooney
Tel: 0207 654 2152/0870 2400 488 (out of hours)

Prudential Group press office
Jon Bunn
Tel: 020 7548 3559
William Baldwin-Charles
Tel: 020 7548 3719

Prudential UK press office
Steve Colton
Tel: 020 7150 3136
Darragh Leeson
Tel: 020 7150 2600

Note to editors

The Capita Group Plc is the UK's leading provider of integrated professional
support service solutions. The Group's service capabilities encompass business
process outsourcing, (BPO), customer services, administration and support, human
resources, ICT, property consultancy, finance & treasury and consultancy
delivered to both public sector and private organisations. With 28,500 employees
at more than 250 offices across the UK, Channel Islands, Ireland and India,
Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of
the FTSE100 with revenues for 2006 of £1,739 million. Further information on The
Capita Group Plc can be found at:  www.capita.co.uk


Prudential UK

Prudential is a leading life and pensions provider to approximately 7 million
customers in the United Kingdom.  Prudential UK has offices located in London,
Reading, Belfast, Dublin 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
Protection. Distribution Channels: Direct-to-customers/PruDirect (telephone,
internet and mail), Financial Advisers, Business to Business (consulting
actuaries and benefit advisers), and Partnerships (affinities and banks).

Mature Life and Pensions ('ML&P') is the term used to describe the collection of
products Prudential holds for its existing life and pensions customers. The
business comprises the vast majority (approximately 8 million policies) of
Prudential UK's in-force policies. It consists of group pensions, individual
pensions, investment bonds and life and endowment policies (annuities, lifetime
mortgages, protection and healthcare are not included within the book of
business). Most of these products are still open to new business, for instance
through top-ups, but the main role of the ML&P operation is to look after this
existing business and get the best possible value from it for shareholders and
policyholders. Prudential expects that this business will continue to be a
significant source of new business, particularly through internal vestings and
in the corporate pensions arena.

The Mature Life and Pensions back-book represents around two-thirds of
Prudential UK's total cost base. A key priority for Prudential is to continue to
deliver embedded value through the ML&P business and as the back-book runs down
over the course of the next few years (over 40 per cent of the in-force policies
mature in the next five years), this creates an inherent pressure on unit costs.
As large proportions of the costs are currently fixed, this means that unit
costs would continue to rise beyond the levels allowed for when the policies
were originally sold. Prudential, therefore, highlighted an aggressive target to
reduce per-policy unit processing costs in line with the reducing numbers of
in-force policies.


                      This information is provided by RNS
            The company news service from the London Stock Exchange