Capita expands existing contract to deliver operational services for Zurich's life business

Capita expands existing contract to deliver operational services for Zurich's life business

The Capita Group Plc has announced that it has extended its existing outsourcing arrangement with Zurich Financial Services Group to deliver operational services for Zurich's UK life business operations by 11 years (from 2015 to 2026) and to support the development of Zurich Global Life's European and international administration hubs for a 15 year period.

The extension of the current contract, together with the new work over 15 years, will generate approximately £570 million in revenues to Capita. The new work will transfer to Capita on 1 July 2011. This announcement follows Capita's announcement in March 2011 when it said that it was in discussions with Zurich as staff consultation was commencing.

Capita will provide customer servicing, policy administration and claims activity for much of Zurich's life business, for customers in Europe, the Middle East and internationally. Under the terms of the agreement, approximately 400 employees from Zurich will transfer to Capita.