15th Oct 2007 07:00
Capita Group PLC15 October 2007 15 October 2007 CAPITA AND CO-OPERATIVE INSURANCE SIGN MAJOR OUTSOURCING CONTRACT The Capita Group Plc ("Capita") and Co-operative Insurance ("CIS"), part ofCo-operative Financial Services ("CFS") today signed a contract for Capita todeliver business processing activities to support the continued growth of CIS'sFinancial Services operations. The contract is worth more than £270 million overten years. Capita will provide customer services, policy administration, new business andclaims activities and the associated technology for around 4.5 million policiesacross CIS's life and pensions and unit trust operations. Capita will also beproviding a platform to enhance CIS's new product development. Capita and CFS first announced this deal in November 2006 at the 'preferredbusiness partner' stage with an estimated value, at that time, of £250 million.More than 800 staff will transfer to Capita under TUPE terms on 19 November. Paul Pindar, Chief Executive of The Capita Group, commented: "This partnershipwill draw upon Capita's expertise across both the life & pensions and unit trustadministration markets through both Capita Life & Pensions and Capita FinancialGroup. An integrated operating infrastructure will deliver cost and qualitybenefits alongside enhanced customer service and provide a flexible platform forCIS's current and new business. The work will continue to be delivered from acentral Manchester base and builds on Capita's commitment to North West England.We look forward to welcoming all staff who transfer to Capita." David Anderson, Chief Executive of Co-operative Financial Services (CFS), said:"I am confident that this partnership with Capita will provide our staff withincreased opportunity for future development within a number of differentsectors. Over the last three years, the change programme undertaken within CIShas delivered significant customer and business benefits ahead of schedule.This partnership with Capita is yet another way of transforming the way in whichwe do business and ensuring that our customer service continues to be worldclass." -ends- For further information: The Capita Group Plc 020 7799 1525 Paul Pindar, Chief ExecutiveShona Nichols, Corporate Communications Director Media enquiries: Caroline MooneyCapita press officeTel : 0207 654 2152Email : [email protected] Duncan BowkerCFS press officeTel: 0161 827 5617Email: [email protected] Notes to editors The Capita Group Plc is the UK's leading provider of integrated professionalsupport service solutions. The Group's service capabilities encompass businessprocess outsourcing, (BPO), customer services, administration and support, humanresources, ICT, property consultancy, finance & treasury and consultancydelivered to both public sector and private organisations. With 27,800 employeesat 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 ofthe FTSE100 with revenues for 2006 of £1,739 million. Further information on TheCapita Group Plc can be found at: www.capita.co.uk Capita Life and Pensions provides core administrative support to a number of UKand overseas life and pensions companies, including MetLife, the Children'sMutual, Lincoln Financial Group, Prudential UK and Zurich Financial Services.Including the Resolution strategic partnership, Capita Life & Pensions will beresponsible for administering 15 million policies by the end of this year. Co-operative Financial Services (CFS ) is an Industrial and Provident Society,which brings together the Co-operative Insurance Society (CIS) and TheCo-operative Bank under common leadership. It is owned by the Co-operative Group(CWS) Limited, which is, in turn, the largest consumer co-operative in the UK,democratically run for the benefit of its members. Further information on Co-operative Financial Services can be found at:www.cfs.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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