9th Nov 2006 14:30
Capita Group PLC09 November 2006 Capita selected by Co-operative Insurance as Preferred Business Partner The Capita Group Plc ("Capita") announces that it has been selected as preferredbusiness partner by Co-operative Insurance ("CIS"), part of Co-operativeFinancial Services ("CFS") to deliver business processing activities to supportthe continued growth of CIS's financial services operations. The strategic partnership will see Capita delivering customer services, policyadministration, new business and claims activities and the associated technologyfor over 5 million policies across CIS's life and pensions and unit trustoperations. Capita will also be providing a platform to enhance CIS's newproduct development. CIS has today informed its staff of this proposed partnership. Contractnegotiations are in progress with the contract expected to commence later in2007. Subject to final scope of services, the contract is expected to be worthin excess of £250 million over a 10 year period. Paul Pindar, Chief Executive of Capita commented, "We are delighted to have beenselected by CIS as their preferred business partner. The proposed partnershipwill draw upon Capita's expertise across both the life & pensions and unit trustadministration markets. Our integrated operating infrastructure will not onlydeliver 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 Manchesterbase and builds on Capita's commitment to North West England. We look forward tofine tuning the partnership with CIS over the next few months and welcoming allstaff who transfer to Capita." Any resultant arrangement will be subject to FSA approval. -Ends- 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 professionalsupport service solutions. The Group's service capabilities encompass customerservices, financial services, human resource services, software services,systems and strategic support and property services delivered to both publicsector and private organisations. With over 26,000 employees at more than 250offices 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 £1,436million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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