Section one: Contracting authority
one.1) Name and addresses
Flood Re
75 King William Street
London
EC4N 7BE
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
https://www.floodre.co.uk/about-us/
Buyer's address
https://www.mytenders.co.uk/search/Search_AuthProfile.aspx?ID=AA28508
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
one.4) Type of the contracting authority
National or federal Agency/Office
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
IFRS 17 Solution
two.1.2) Main CPV code
- 79412000 - Financial management consultancy services
two.1.3) Type of contract
Services
two.1.4) Short description
Provision of a solution to meet the IFRS 17 requirements (from both an Actuarial and Finance perspectives): IFRS 17 parametrization, fulfilment cashflows, loss & loss recovery component calculations, discount rates, financial accounting ledger postings, production of financial statements and disclosures.
two.1.6) Information about lots
This contract is divided into lots: Yes
Tenders may be submitted for one lot only
two.2) Description
two.2.1) Title
Provision for financial calculations and reporting outputs
Lot No
1
two.2.2) Additional CPV code(s)
- 79412000 - Financial management consultancy services
two.2.3) Place of performance
NUTS codes
- UKI4 - Inner London – East
two.2.4) Description of the procurement
Provision of a solution to meet the IFRS 17 requirements (from both an Actuarial and Finance perspectives): IFRS 17 parametrization, fulfilment cashflows, loss & loss recovery component calculations, discount rates, financial accounting ledger postings, production of financial statements and disclosures.
two.2.5) Award criteria
Quality criterion - Name: Support / Weighting: 20%
Quality criterion - Name: Social/Value / Weighting: 5%
Quality criterion - Name: Solution / Weighting: 50%
Price - Weighting: 25%
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
60
This contract is subject to renewal
Yes
Description of renewals
Possible 3 years
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2) Description
two.2.1) Title
Provision for financial and Actuarial calculations with relevant reporting outputs
Lot No
2
two.2.2) Additional CPV code(s)
- 66519600 - Actuarial services
two.2.3) Place of performance
NUTS codes
- UKI4 - Inner London – East
two.2.4) Description of the procurement
Provision of a solution to meet the IFRS 17 requirements (from both an Actuarial and Finance perspectives): IFRS 17 parametrization, fulfilment cashflows, loss & loss recovery component calculations, discount rates, financial accounting ledger postings, production of financial statements and disclosures.
two.2.5) Award criteria
Quality criterion - Name: Solution / Weighting: 50%
Quality criterion - Name: Support / Weighting: 20%
Quality criterion - Name: Social/Value / Weighting: 5%
Price - Weighting: 25%
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
60
This contract is subject to renewal
Yes
Description of renewals
Possible 3 years
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.6) Information about electronic auction
An electronic auction will be used
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
5 January 2022
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
5 December 2022
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
(MT Ref:224550)
six.4) Procedures for review
six.4.1) Review body
Public Procurement Review Service
Cabinet Office
London
publicprocurementreview@cabinetoffice.gov.uk
Telephone
+44 3450103503
Country
United Kingdom
Internet address
https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit