Lovells has helped seal one the largest-ever outsourcing deals in the insurance sector — advising long-term client Prudential UK on a 722 million pound ($1.5 billion) agreement to transfer staff to The Capita Group Plc.
The 15-year agreement, announced Wednesday, is expected to save Prudential 60 million pounds ($124.8 million) a year by 2010, with some 1,750 staff in Stirling and Reading in the United Kingdom transferring to outsourcing group Capita as well as around 1,250 of Prudential’s 1,800 Mumbai-based staff.
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