16th Aug 2006 09:30
Capita Group PLC16 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 outsourcingcontract with Prudential UK ("Prudential") to deliver a range of life andpension sales and administration services. The contract is projected to generaterevenues to Capita of approximately £40 million over the 3 year term of thecontract, after which Prudential have an option to renew on a rolling basis. The contract builds on Capita's existing track record of delivering services forPrudential. Capita has been successfully providing a full range of life andpensions administration services for Prudential's international cross borderlife assurance portfolio of new and existing business since 2003. Under the agreement, Capita will deliver end-to-end support for Prudential's UKLife and Pensions operations. Approximately 450 staff working in Prudential'sCustomer Services, PruDirect (Direct-to-Consumer) and Support Servicesoperations 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 alreadyprovides services for the BBC and the Northern Ireland Civil Service. Paul Pindar, Chief Executive of Capita said: "We are delighted to have thisopportunity to further support Prudential by playing a key role in thedevelopment and success of its UK Life & Pensions business. The contractsignificantly expands our Life & Pensions business and reinforces our positionas a leader in delivering outsourced solutions in this market. We welcome allthe Prudential staff who will transfer with the contract to Capita and we areexcited about the opportunities to continue expanding our business in Belfast." Nick Prettejohn, Chief Executive of Prudential UK, said: "This has been a verydifficult time for all our staff in Belfast but throughout this period, theyhave continued to provide an excellent service to our customers. Thisoutsourcing agreement helps provide them with continued employment and enablesus to maintain the highest standards of customer service while delivering theefficiencies and cost savings we announced earlier in the year. We are delightedto have selected Capita as our outsourcing partner and look forward to workingwith them." Prudential's Belfast operation currently handles a range of services includingdeath claims, matured and surrendered policies and general UK customer support.It also provides a direct-to-customer telephone sales operation. -ENDS- 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 Prudential Prudential UK 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 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 250 offices across the UK and Ireland,Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent ofthe FTSE100 with revenues for 2005 of £1,436 million. Further information on TheCapita Group Plc can be found at www.capita.co.uk Prudential is a leading life and pensions provider to approximately 7 millioncustomers in the United Kingdom. As at 30 June 2006, it had approximately 6,930full-time staff, offices located in London, Reading, Belfast, Dublin, Bristoland Stirling, and a customer service centre in Mumbai. Products: Bulk and Individual Annuities, Corporate Pensions, With-Profits andUnit-Linked Bonds, Savings and Investments, Lifetime Mortgages, Healthcare andProtection. Distribution Channels: PruDirect (Direct-to-Consumers via telephone, internetand mail), Financial Advisers, Business-to-Business (consulting actuaries andbenefit advisers), and Partnerships (affinities and banks). Today's announcement does not in any way affect the operations of PrudentialInternational in Dublin. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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