Capita has signed an outsourcing agreement with Prudential to deliver a range of life and pension sales and administration services.
Around 450 staff will move from Pru to Capita from the customer services, PruDirect and support services operations in Belfast. The moves will take place in early Autumn under Transfer of Undertakings (Protection of Employment) Regulations.
The deal is expected to generate around £40m of revenue to Capita over the 3 year term of the contract, after which Pru has an option to renew on a rolling basis.
Capita has been providing admin services to Pru’s international cross border life assurance portfolio of new and existing business since 2003.
Capita chief executive Paul Pindar says: “We are delighted to have this
opportunity to further support Prudential by playing a key role in the
development and success of its UK life and pensions business.
We welcome all the Prudential staff who will transfer with the contract to Capita and we are excited about the opportunities to continue expanding our business in Belfast.”
Prudential chief executive Nick Prettejohn says: “This has been a very
difficult time for all our staff in Belfast but throughout this period, they
have continued to provide an excellent service to our customers.
“This outsourcing agreement helps provide them with continued employment and enables us to maintain the highest standards of customer service while delivering the efficiencies and cost savings we announced earlier in the year. We are delighted to have selected Capita as our outsourcing partner and look forward to working with them.”