Aviva plc has sold its offshore operations, known as Aviva Global Services, to WNS. As part of this agreement, Aviva has also entered into a master services contract with WNS, who will provide offshoring services to Aviva’s UK, Irish and Canadian businesses for the next eight years and four months. Aviva will receive total cash consideration of 115 million.
By combining the sale with a long-term master services agreement, Aviva will be able to realise the value of the offshoring operations it has been developing since 2003, while continuing to benefit from the expertise that it has developed in that time and ensuring protection against future inflation and adverse changes in foreign exchange rates.
“We’re proud of the significant offshoring capability that we’ve built over the past five years and we remain firmly committed to offshoring,” says
Cathryn Riley, chair of AGS and chief operating officer of Norwich Union Life. “After an extensive review, we’ve chosen one of our current suppliers to be our long-term partner, allowing us to build on the strength of our existing relationship to increase the flexibility and cost-certainty within our operation. WNS are a great partner; they understand our business and have demonstrated their commitment to helping us develop our customer experience and shared services model, which will make an important contribution to the delivery of our ‘One Aviva, twice the value’ vision.”