Official UK procurement notice
Group Income Protection Policy
Authority: National Wealth Fund Limited (Public body)
Sectors: Financial and insurance services (66) Delivery: UK
Awarded value£520,931published contract · exc. VAT
Awarded 1 Sept 2023no call for competition
Awarded to Canada Life Limited
What is being bought
Published requirement descriptionProvision of Income Protection Policy
CPV: Insurance services
The lotProcurement structure
single lot · no lot value publishedLot #1Group Income Protection Policy for NWF staffAwarded
Procedure terms & legal framework
From the official record- Procedure method
- Award procedure without prior publication of a call for competition
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded without competition
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Direct award (no call for competition)
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- Unspecified in notice
- First published
- 19 Dec 2024, 14:58 GMT
- Last source update
- 19 Dec 2024, 14:58 GMT
- Authority reference
C0434- FTS notice number
2024/S 000-041011- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-04c9b0Find a Tender
- Why no open competition
- The procurement falls outside the scope of application of the directive
- Published justification
NWF appointed an insurance broker who it was thought had brokered a one year contract for this insurance on behalf of the NWF. This contract was below threshold value and no prior publication was required ahead of contracting. It has recently been uncovered it was a one year contract with 2 optional 12 month extensions and that the first extension has been taken.
We are therefore issuing a late award notice.
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecastAwards 1
Awarded value £520,9311 contract exc. VAT
Bids received 1
Contracts signed 1latest 1 Sept 2023
| Awarded to | Value | Date | Status |
|---|---|---|---|
| Canada Life Limited | £520,931 † | — | Awarded |
Contracts
Contract 041011-2024-1 · Canada Life Limited
- Signed
- 1 Sept 2023
- Value
- £520,931
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 1bids | — | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- The Royal Courts of JusticeReview body
Bidders & participating suppliers
1 commercial party on the notice- Canada Life LimitedAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.