Captive Insurance Management Services

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: forms.office.com/Pages/ResponsePage.aspx ↗ 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: forms.office.com/Pages/ResponsePage.aspx ↗

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.