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Pru staff moving to Capita in outsourcing deal

Capita has signed a 40m three-year outsourcing contract with Prudential to provide its life and pension back-office systems.

The deal will see around 540 Prudential support staff move into Capita, largely from its call centre, the direct-to-consumer offering, PruDirect, and its support services operations in Belfast.

The move will take place in early autumn under the Transfer of Undertakings (Protection of Employment) Regulations, meaning all staff will become employees of Capita but will continue to undertake their existing duties.

The deal is expected to generate around 40m for Capita over the three-year term, 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 insurance portfolio of new and existing business since 2003.

Pru says it is monitoring the development of the UK’s wrap market and is looking for a partner although it is too early to say if it will choose Capita.

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 pension business.”

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 customers.

“This outsourcing agreement helps provide them with continued employment and enables us to maintain the highest standards of custo- mer service while delivering the efficiencies and cost savings we announced earlier in the year.”


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