INSURANCE GROUP Zurich is considering outsourcing about 100 jobs at its European hub in Blackrock, Co Dublin, to Capita, a UK-listed company that specialises in this field, The Irish Times has learned.
The outsourcing relates to Zurich Life, which has 600 employees here, including 350 in a European hub.
In total, Zurich has 1,100 employees in Ireland across its life and general insurance businesses.
Zurich confirmed yesterday that it had entered discussions with Capita regarding a “potential extension” of its existing contract which covers its UK operations. “As these discussions are confidential, it is too early to give any further details at this stage.”
Zurich said the roles would continue to be based at its premises in Blackrock but the affected staff would be employed by Capita.
“If we do proceed and work transfers to Capita, then individuals will transfer with that work, retaining comparable contractual terms and conditions.”
It is understood that certain administration and business process services for Zurich Global Life’s administration hubs for Europe and the Middle East could be transferred to Capita.
Many large global organisations are using outsourcing as a means of reducing overheads. Zurich said extending Capita’s relationship with the insurer would enable it to focus on its core areas of expertise.
In the year to the end of December 2009, Zurich Life’s Irish new business annual premium equivalent grew by 1 per cent to €177.9 million. The company increased its market share to 18 per cent.
