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Prudential in Capita talks on white-label wrap deal

Prudential is understood to be in advanced talks with Capita over launching its own wrap as a white-labelled version of the outsourcer’s Enabler platform.

Pru says it has yet to make a decision on whether it will launch a wrap or which third-party providers it might use.

MetLife and Zurich are also thought to have had white-label discussions with Capita.

Last December, Prudential signed a £722m deal outsourcing the admin of its pensions, investment bond, life and endowment policies to Capita.

Capita is an outsourcing partner to Zurich UK after signing a £300m deal in December 2005 and provides admin support for MetLife’s Sipp and Tip.

Capita managing director Graham Coxell would not confirm talks with specific providers but says: “We are in discussions with a number of providers over putting their wrappers on to the Enabler platform and with a number of big IFA firms interested in using it.”

Ernst & Young head of UK insurance Shaun Crawford says: “It would be a logical approach for Prudential given the existing relationship.”

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