Section one: Contracting authority/entity
one.1) Name and addresses
BANK OF ENGLAND
Threadneedle Street
London
EC2R8AH
Corporate.contracts@bankofengland.co.uk
Telephone
+44 2076011116
Country
United Kingdom
Region code
UKI31 - Camden and City of London
Companies House
RC000042
Internet address(es)
Main address
http://www.bankofengland.co.uk/
Buyer's address
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Private Medical Insurance
Reference number
Private Medical Insurance Tender 2016 - DN179925 CON-1000439
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.2) Description
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement at the time of conclusion of the contract:
The Bank of England has previously appointed a supplier to provide private medical Insurance schemes.
This notice relates to an amendment to that contract.
Original contract term 1 April 2017 - 31 March 2022 +2+2 years.
two.2.7) Duration of the contract, framework agreement, dynamic purchasing system or concession
End date
31 March 2026
Section four. Procedure
four.2) Administrative information
four.2.1) Contract award notice concerning this contract
Notice number: 2013/S 205-355459
Section five. Award of contract/concession
Contract No
DN179925 324884-2016 - Competition CON-1000439
five.2) Award of contract/concession
five.2.1) Date of conclusion of the contract/concession award decision:
1 April 2017
five.2.2) Information about tenders
The contract/concession has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor/concessionaire
AXA PPP Healthcare Group Ltd
London
Country
United Kingdom
NUTS code
- UK - United Kingdom
Companies House
03148119
The contractor/concessionaire is an SME
No
five.2.4) Information on value of the contract/lot/concession (at the time of conclusion of the contract;excluding VAT)
Total value of the procurement: £100,000,000
Section six. Complementary information
six.3) Additional information
OJEU refs: OJ S: 2013/S 205-355459 / OJ S 181/2016 20/09/2016
https://ted.europa.eu/en/notice/-/detail/324884-2016
six.4) Procedures for review
six.4.1) Review body
High Court of England and Wales London
London
Country
United Kingdom
Section seven: Modifications to the contract/concession
seven.1) Description of the procurement after the modifications
seven.1.1) Main CPV code
- 66000000 - Financial and insurance services
seven.1.3) Place of performance
NUTS code
- UK - United Kingdom
seven.1.4) Description of the procurement:
The Bank of England has previously appointed a supplier to provide private medical Insurance schemes.
This notice relates to an amendment to that contract.
seven.1.5) Duration of the contract, framework agreement, dynamic purchasing system or concession
End date
31 March 2027
seven.1.6) Information on value of the contract/lot/concession (excluding VAT)
Total value of the contract/lot/concession:
£115,380,000
seven.1.7) Name and address of the contractor/concessionaire
AXA PPP Healthcare Group Ltd
London
Country
United Kingdom
NUTS code
- UK - United Kingdom
Companies House
03148119
The contractor/concessionaire is an SME
No
seven.2) Information about modifications
seven.2.1) Description of the modifications
Nature and extent of the modifications (with indication of possible earlier changes to the contract):
Modification Notice
The contract is modified as follows:
1) Term extension from 31 March 2026 to 31 March 2027 (cost up to £15, 000,000)
2) Contractual amendment to change the fully insured funding model from 'Cap and Collar' to a 'General Stop Loss' (GSL), to limit any retained underspend based on claims performance (costing up to £380,000 for 2 periods 25/26 and 26/27) .
The changes are made in line with Regulation 72(1)(b) PCR 2015.
Costs
£100,000,000 + £380,000 + £15,000,000 = £115,380,000
New total contract value = £115,380,000
seven.2.2) Reasons for modification
Need for additional works, services or supplies by the original contractor/concessionaire.
Description of the economic or technical reasons and the inconvenience or duplication of cost preventing a change of contractor:
The changes are made in line with Regulation 72(1)(b) PCR 2015.
Contractual amendment to change the fully insured funding model from 'Cap and Collar' to a 'General Stop Loss' (GSL), to limit any retained underspend based on claims performance (costing up to £380,000 for 2 periods 25/26 and 26/27)
seven.2.3) Increase in price
Updated total contract value before the modifications (taking into account possible earlier contract modifications, price adaptions and average inflation)
Value excluding VAT: £15,380,000
Total contract value after the modifications
Value excluding VAT: £115,380,000