2006 Developments

• We are the leading outsourcing provider in this area with an estimated 39% market share of contracts let. We currently administer 4.5m life, savings & pensions policies and this market continues to be very active
• SIPP administration is a strong growth area of the pensions market. Our SIPP business currently administers self invested personal pensions for a number of leading life and investment firms including Scottish Life, St. James's Place and MetLife
• Our new Prudential contract, delivering administration services from Belfast to Prudential's UK life and pensions operations,transferred smoothly at the beginning of October and already progress has been made in improving service quality and efficiency
• Created a joint proposition across life & pensions, insurance and financial services to enhance the interface between providers and distributors, enabling products to be brought to market swiftly and to drive down the cost of distribution
• Capita Hartshead continues to perform strongly with 28% of the current outsourced market and 12% of the overall occupational pension scheme market

2007 Priorities and challenges

• Maintain high levels of compliance across the business and develop solutions which help clients meet increasingly onerous regulatory requirements
• Achieve further economies of scale by processing a greater number of contracts through our existing infrastructure
• Achieve a smooth transition of services from Co-operative Insurance
• Continue to develop our technology platforms to assist clients with bringing new products to market faster
• Continue to build offshore capability into existing contracts and new proposals
• Continue to grow presence in occupational benefit consultancy and actuarial services.