Planning

Private Medical Scheme

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Planning

18 Mar 2026 at 13:28

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The Bank of England, located in London, is engaging in the preliminary stages of procuring a Private Medical Scheme service. The procurement, classified under insurance services in the public authority central government sector, is currently in the planning phase with an anticipated tender process to commence around June 2026. This upcoming contract aims to provide a private medical insurance scheme as part of the Bank's employee benefits package starting from April 2027. A key milestone in this process includes a briefing for potential suppliers scheduled for 26 March 2026, with registration closing on 23 March 2026. Interested parties should contact Corporate.Contracts@bankofengland.co.uk for attendance details.

This tender presents significant opportunities for insurance providers with the capacity to deliver comprehensive private medical schemes, aligning with the Bank’s mission to ensure monetary and financial stability through valuable employee benefits. Businesses that specialise in insurance services and can demonstrate robust trust service capabilities are well-suited to participate in this market engagement exercise. Although this phase does not constitute a competitive bidding process, it offers suppliers a chance to understand the requirements and prepare for potential engagement once the formal tender process begins. With the contract projected to run from 2027 to 2032, this presents a substantial growth opportunity for businesses in the insurance industry.

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Notice Information

Notice Title

Private Medical Scheme

Notice Description

THIS IS NOT A CALL FOR COMPETITION The Bank of England (the Bank) is commissioning a Private Medical Scheme. It is anticipated, dependent upon an engagement exercise, that a tender for this service will be issued in June 2026, to enable a new contract to begin from April 2027. As part of the tender process, the Bank is undertaking a soft market test. This gives potential providers the opportunity to understand the requirement and assess their suitability ahead of a formal tender process. A briefing for all interested suppliers will be held on Thursday 26 March 2026 at 11am. To attend the briefing, interested suppliers are requested to send an email with Private Medical Scheme PME in the subject line to: Corporate.Contracts@bankofengland.co.uk by 12 noon Monday 23 March 2026. Note This process does not constitute a formal tender or other competitive bidding process and will not result in the award of a Contract. The Bank is using this process solely to test the market to gather information and ascertain the level of interest in this particular service. There are therefore no formal criteria which we will use to judge your responses, and it is not our intention to provide any feedback. About the Service The Bank is the central bank of the United Kingdom. Its mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. As part of its overall reward package for Bank employees, the Bank offers private medical insurance as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide a private medical scheme by April 2027.

Planning Information

A briefing for all interested suppliers will be held on Thursday 26 March 2026 at 11am. To attend the briefing, interested suppliers are requested to send an email with Private Medical Scheme PME in the subject line to: Corporate.Contracts@bankofengland.co.uk by 12 noon Monday 23 March. The Bank is in the process of drawing up its requirements (including legal terms) for any future contract. In so doing, the Bank is consulting example documentation. Interested suppliers are invited but not required to submit any example / template documentation for reference by the Bank to the email address set out above.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-066d94
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/024604-2026
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK2 - Preliminary Market Engagement Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66161000 - Trust services

66510000 - Insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
18 Mar 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
23 Mar 2026Expired
Award Date
Not specified
Contract Period
31 Mar 2027 - 31 Mar 2032 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Planning
Awards Status
Not Specified
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
Post Town
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
Not specified
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

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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