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Insurance Brokerage Service 2023

Bank of England

This public procurement record has 1 release in its history.

Award

25 Oct 2023 at 12:52

Award Notice
Summary of the contracting process

The Bank of England has awarded a contract for Insurance Brokerage Service 2023. The procurement method used was selective, with a total value of £130,000 in GBP. The contract period starts on July 1, 2023, and ends on June 30, 2028. The procurement stage was at the award stage, with the tender period ending on May 22, 2023. The service falls under the main procurement category of services, with the Bank headquartered in London, England.

This tender for Insurance Brokerage Service 2023 by the Bank of England offers opportunities for businesses to provide insurance brokerage services to a large-scale financial institution. Small and medium-sized enterprises (SMEs) are welcome to participate in this selective procurement process. Businesses in the insurance services industry, particularly those experienced in working with financial institutions, would be well-suited to compete for this opportunity and support the Bank in obtaining the most suitable insurance services for its needs.

How relevant is this notice?

Notice Information

Notice Title

Insurance Brokerage Service 2023

Notice Description

The requirement is for a full insurance brokerage service that will assist the Bank in obtaining 'best value' insurance services / policies with appropriate cover to protect the Bank's interests. The broker is also required to assist the Bank in a consolidated insurance package tender in 2024.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7dbfad32-c515-42f3-8859-b904d3a18edf
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/891261f4-0032-41aa-878f-ed57211317e9
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

Notice Value(s)

Tender Value
£130,000 £100K-£500K
Lots Value
Not specified
Awards Value
£130,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
25 Oct 20232 years ago
Submission Deadline
22 May 2023Expired
Future Notice Date
Not specified
Award Date
8 Jun 20233 years ago
Contract Period
1 Jul 2023 - 30 Jun 2028 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Bank of England
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Postcode Area
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

Willis Limited

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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