Prudential UK has announced the closure of its recent £745 million business process outsourcing (BPO) deal with UK outsource provider, Capita. The 15-year 'billion dollar deal' (actually $1.5 billion) is the largest of its kind in the UK insurance market, and revolves around the outsourcing of life and pensions sales administration.

Building on a relationship between the two companies that began in 2003, the deal will see the outsourcing of Prudential UK's life insurance intermediary admin services, the transfer of over 3,000 employees in the UK and India, and the sale of Prudential UK's Mumbai-based captive operation.