17 February 2011
CAPITA TO DELIVER EXTENDED LIFE AND PENSIONS CONTRACT FOR METLIFE
The Capita Group Plc ('Capita') today announces its intent to enter into a new
contract with MetLife Europe Ltd (`MetLife') to deliver a major new phase of
their strategic outsourcing partnership. The contract will be worth
approximately £120 million over 10 years, with scope for additional services to
be added, and helps underpin the long-term UK growth strategy of MetLife.
Under the new contract, Capita will provide customer servicing, policy
administration, claims activity and related IT support for MetLife's pension
and bond products for customers in the UK and Ireland. The contract will be
serviced from a centre of excellence in Belfast.
MetLife Inc is a leading global provider of insurance, annuities and employee
benefits, serving 90 million customers in 60 countries and entered the UK
pensions market, supported by its partnership with Capita, in 2007. Last year
it achieved `Company of the Year' and a `5 star service' ranking in the
Financial Adviser awards - a competition voted for by more than 9,000
independent financial advisers.
MetLife's Managing Director for the UK Dominic Grinstead said: "The contract
with Capita underlines our long-term commitment to growth in the expanding UK
retirement income market. It enables us to build on our commitment to service
excellence and we are delighted that we will have even greater scalability and
flexibility through this new deal."
Paul Pindar, Chief Executive of the Capita Group Plc, commented: "MetLife chose
to extend their relationship with us both because of our cost-effective
delivery and our effective customer service. Under this contract our integrated
operating infrastructure will not only deliver further cost and quality
benefits but will also provide a flexible platform for MetLife's growing
business."
Including this agreement Capita Life & Pensions will be responsible for
administering approximately 23 million policies.
-ends-
For further information:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Capita press office
Caroline Mooney
Tel: 0207 654 2152 or 020 7654 2399 (out of hours)
MetLife contact
Claire Oldstein, Marketing Director
Tel: 0207 715 2300
Notes to editors
The Capita Group Plc is the UK's leading provider of BPO and integrated
professional support service solutions. With 36,000 people at more than 300
sites, including 59 business centres across the UK, Ireland, the Channel
Islands and India, the Group uses its expertise, infrastructure and scale
benefits to transform its clients' services, driving down costs and adding
value. Capita is quoted on the London Stock Exchange (CPI.L), and is a
constituent of the FTSE100 with revenues for 2009 of £2,687 million. Further
information on The Capita Group Plc can be found at: http://www.capita.co.uk
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