Zurich Financial Services has expanded its outsourcing arrangement with Capita to include operational services in a deal expected to net Capita £570m in extra revenue.
Zurich has agreed to outsource its life operations for an extra 11 years when the current contract runs out in 2015.
The new arrangement will end in 2026 and will see the outsourcing firm running the majority of the provider’s customer servicing, policy administration and claims activity.
Capita will also support the development of Zurich Global Life’s European and international administration businesses for 15 years from July 1.
Under the terms of the agreement around 400 Zurich employees will transfer to Capita.