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Insurance Broker Services

HS1 Ltd

This public procurement record has 3 releases in its history.

Award

16 Jun 2026 at 12:19

UK6 - Contract Award Notice
TenderUpdate

09 Apr 2026 at 14:15

UK4 - Tender Notice
Tender

20 Mar 2026 at 15:00

UK4 - Tender Notice
Summary of the contracting process

HS1 Limited, trading as London St. Pancras Highspeed, has completed the award stage of a procurement process to appoint an Insurance Broker for a range of required insurance services under its Concession Agreement with the Department for Transport. This contract, titled "Insurance Broker Services," falls under the services category, specifically within railway insurance and brokerage services. The procurement method used is an open, competitive flexible procedure, catering to private utility needs and overseen through their procurement portal. The contract will begin on 1st July 2026 and continue until 30th June 2031, with a potential extension of up to three years, making the maximum extent date 30th June 2034. The award notice was issued on 16th June 2026, with Marsh Limited selected as the supplier. This procurement, valued at £35.6 million, involves executing insurance policies by the renewal date of 14th November 2026 and in subsequent years.

This tender offers substantial opportunities for growth, particularly for businesses well-acquainted with the insurance brokerage and railway insurance sectors. Firms with expertise in managing extensive insurance portfolios and familiarity with the statutory requirements under the utilities regime and the Procurement Act 2023 would be well-suited to compete. The contract, comprehensive in scope, requires a diligent approach to policy placement and cost management, ensuring an optimal balance for HS1 Limited. Companies capable of navigating complex insurance terrains to minimise organisational risk and offering flexibility in service delivery over an extended period will find this an advantageous opportunity to secure high-value, long-term business engagements.

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Notice Information

Notice Title

Insurance Broker Services

Notice Description

Under its Concession Agreement with the DfT, London St. Pancras Highspeed (LSPH) is required to source a range of insurance policies. These policies must provide levels of cover which are specified in Schedule 5 (pages 150 - 157) of the Concession Agreement, which is available on LSPH's website at https://stpancras-highspeed.com/our-company/regulatory/regulatory-docs/ . LSPH is seeking to appoint an Insurance Broker to deliver its obligations at optimal cost, whilst minimising risk to LSPH. LSPH will be replacing its current Insurance Broker Services contract in July 2026. The contract will be for 5 years with an option to extend up to 3 more years, to deliver the services, to be defined in more detail in the ITT stage of this procurement - for those suppliers that are successful in the initial PSQ stage. The successful tenderer will ensure that all the required policies are placed for the initial annual insurance renewal date, which is 14th November 2026, and subsequent years thereafter.

Lot Information

Lot LOT-0000

Options: Option to extend by up to 3 additional years, making a maximum term of 8 years. The total value (estimated), stated above, is based on the maximum term (including allowable extensions) of 8 years - and includes the broker fee and all insurances placed on behalf of LSPH, by the successful, selected broker that is awarded the contract. Please note that the stated 'Value (inc. VAT)' as actually the estimated value including IPT (Insurance Premium Tax) at 12%, not VAT.

Renewal: Possible annual extensions - up to a maximum of 3 additional years, making the maximum possible total term equal 8 years.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06708b
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/056601-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66514130 - Railway insurance services

66518000 - Insurance brokerage and agency services

66518100 - Insurance brokerage services

Notice Value(s)

Tender Value
£45,535,714 £10M-£100M
Lots Value
£45,535,714 £10M-£100M
Awards Value
£35,600,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
16 Jun 20263 months ago
Submission Deadline
15 May 2026Expired
Future Notice Date
Not specified
Award Date
11 Jun 20263 months ago
Contract Period
1 Jul 2026 - 30 Jun 2031 Over 5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
HS1 Ltd
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
N1 9AG
Postcode Area
North London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI43 Haringey and Islington
Delivery Location
Not specified
Local Authority
Islington
Electoral Ward
Caledonian
Westminster Constituency
Islington South and Finsbury

Supplier Information

Number of Suppliers
1
Supplier Name

Marsh Limited

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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