Scope
Description
The captive requires a specialist Captive Manager for the provision of services to operate and fully manage the company on a cost effective, and regulatory compliant basis.
The required services broadly cover:
I. Finance
II. Insurance Underwriting (including direct writes and complex reinsurance arrangements)
III. Insurance Claims Handling (on a limited basis for Benefit Disablement policies)
IV. Company Governance (including accounting aligned to IFRS17 standards)
V. Administration
VI. Financial Crime
VII. Data Protection
VIII. Company Secretarial
Total value (estimated)
- £1,750,000 excluding VAT
- £2,100,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 1 October 2026 to 30 September 2030
- Possible extension to 30 September 2031
- 5 years
Main procurement category
Services
CPV classifications
- 66510000 - Insurance services
Contract locations
- GG - Guernsey
Engagement
Engagement deadline
10 December 2025
Engagement process description
Network Rail is conducting a Preliminary Market Engagement activity to assess the markets capability and appetite to deliver captive management services for the Network Rail Insurance Ltd (The Captive), our wholly owned subsidiary company regulated in Guernsey, and Tax domiciled in the UK.
Indicative Scope of Services.
The captive requires a specialist Captive Manager for the provision of services to operate and fully manage the company on a cost effective, and regulatory compliant basis.
The required services broadly cover:
I. Finance
II. Insurance Underwriting (including direct writes and complex reinsurance arrangements)
III. Insurance Claims Handling (on a limited basis for Benefit Disablement policies)
IV. Company Governance (including accounting aligned to IFRS17 standards)
V. Administration
VI. Financial Crime
VII. Data Protection
VIII. Company Secretarial
We request your comprehensive feedback on the following questions which can be accessed via the following link: (https://forms.office.com/Pages/ResponsePage.aspx?id=4cMswn9dTU--A9WhWMyUCWxW-vQrfhVCsEtb2F2HVmpUOFFHR1g5OVVZOEg5U0ROTjMwWkdLNTlJQS4u), which aim to drive better outcomes (performance, risk management, compliance) and value for money (efficiency, cost control, innovation) for this critical service that is required to be based in Guernsey.
Procurement Approach
The Procurement process is expected to commence in early February 2026 (estimated). This PME is for information purposes only; no tender documents are available at this stage. Interested suppliers are encouraged to express their interest for the forthcoming tender via the link: ( https://forms.office.com/Pages/ResponsePage.aspx?id=4cMswn9dTU--A9WhWMyUCWxW-vQrfhVCsEtb2F2HVmpUOFFHR1g5OVVZOEg5U0ROTjMwWkdLNTlJQS4u).
Suppliers interested and wishing to participate in the forcoming tender are required to submit an Expression of Interest (EOI) no later than 10 December 2025. Please note that any supplier failing to respond by this date may, at the discretion of Network Rail, be excluded from the tender process. Further details will be provided in due course
This PME does not constitute a call for competition.
Any procurement process will be published via Network Rail’s e-tendering portal Bravosolutions. Interested suppliers are encouraged to register on the Bravosolutions portal in order to access the tender when it is live.
The intent is to inform a potential future procurement exercise, which will be conducted in accordance with the Procurement Act 2023 (PA23).
Estimated Contract Duration
The Initial Term of this Agreement shall be four (4) years commencing on 01 October 2026 and ending on 31 September 2030. Extension: The Agreement may be extended for one (1) additional year upon mutual written agreement by both parties, subject to the same terms and conditions unless otherwise agreed in writing.
Participation
Particular suitability
Small and medium-sized enterprises (SME)
Submission
Publication date of tender notice (estimated)
9 February 2026
Procedure
Special regime
Utilities
Contracting authority
NETWORK RAIL INFRASTRUCTURE LIMITED
- Public Procurement Organisation Number: PNZN-9524-VCQJ
Waterloo General Office
London
SE1 8SW
United Kingdom
Email: amerjeet.kaur@networkrail.com
Website: https://www.networkrail.co.uk/
Region: UKI45 - Lambeth
Organisation type: Public authority - central government