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Insurance Brokerage Services

National Wealth Fund Limited

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Key details

Contracting authority
National Wealth Fund Limited
Public authority - sub-central government
Region
Leeds
Delivery: United Kingdom, United Kingdom
Contract value
£300,000ex VAT
£360,000 inc VAT
Deadline
12 November 2026
Enquiry deadline
26 October 2026(questions / clarifications)
Award decision
11 December 2026(estimated)
Published
15 October 2026

Procurement

Contract period
1 February 2027 - 30 September 2030
4 years
Possible extension to 30 September 2032 · 5 years, 7 months in total
Extension terms: 2 optional 12 month extensions are included in the contract, subject to performance.
Procedure type
Open procedure
CPV classifications
  • 66518100 Insurance brokerage services

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Description

The National Wealth Fund (“the Fund”) currently provides Life Assurance and Income protection as benefits to all its employees, with the Fund putting in place group policies for both benefits via an insurance broker contract.

The Fund is looking to put in place a new contract for Insurance Brokerage Services to award and manage the placement of future Group Income protection and Group Life Assurance Insurance policies on its behalf.

These policies will need to be placed in a manner that is compliant with the Procurement Act 2023 (PA23). It is anticipated that these new group policies will be put in place with a guaranteed rate of 2-3 years (to be agreed with the successful supplier).

Following the award of these policies the successful supplier will be required to manage any claims on behalf of the Fund on an annual basis, advise on any market changes that may impact the Fund's policies and make recommendations on whether to keep existing policies or undertake a new PA23 compliant market assessment to put in place new policies.

CONTRACTING AUTHORITIES THAT MAY USE THIS CONTRACT:

National Wealth Fund Limited

British Business Bank PLC

British Business Bank (BBB) may also look utilise the brokerage services under the awarded contract as a service recipient to put in place future insurance requirements in a PA23 compliant manner.

They currently have the insurance policies below, however please note this is shared for awareness only and Suppliers are not expected or required to be able to act as a Broker for all of these:

  • Employers liability insurance
  • Professional Indemnity
  • Cyber
  • Travel
  • Life
  • Private medical
  • Credit risk

The total contract value declared in this notice takes into account the possibility of BBB utilising this contract, and should not be as a commitment or guarantee of the level of spend under any subsequent contract.

How to engage

The National Wealth Fund (“NWF”), successor to the UK Infrastructure Bank, has been established to drive the nation's growth by creating a stable investment environment and mobilising private capital to align with the UK Government's strategic priorities. As NWF we will support a wider range of sectors beyond infrastructure, aligning with the Government's industrial strategy. NWF have a total capital of £27.8 billion, with at least £5.8 billion dedicated to green hydrogen, carbon capture, ports, gigafactories, and green steel. This aligns with the principle of achieving policy objectives via sound banking. Our private sector function will provide corporate and project finance and invest across the capital structure, including senior debt, mezzanine, guarantees and equity. Our local authority function will lend to local authorities at a preferential rate for high value and strategic projects of at least £5 million. Why We Are Engaging: NWF is undertaking a Request for Information (RFI) to the market, and may subsequently hold 1-2-1 discussions with respondents, ahead of a future procurement for Insurance brokerage services. The service would need to be capable of awarding insurance policies on behalf of the Fund in a manner compliant with the PA2023. The aim of the engagement is to understand the markets interest in the opportunity, define its requirements and timelines for a subsequent competition to award a contract. Responses and any 1-2-1’s will also be used to determine how brokers can compliantly place policies in line with PA2023 and whether the Fund will need to undertake any further work to facilitate placing these compliantly following a Procurement for a Broker. Any dates or values provided as part of this notice are estimates only and are subject to change depending on wider approvals and feedback to the early market engagement. How to respond: NWF intends to conduct Early Market Engagement ("EME") with the market through this notice with a view to sharing information and seeking input from the market to inform and shape our procurement plans and approach from w/c 8th June 2026 Interested suppliers are invited to submit a written response addressing the questions set out in Schedule 2 of the RFI document. Responses must be submitted via the eSourcing Portal (Atamis) by 12:00 noon on Tuesday 30th June 2026. Clarification questions should be submitted by 12:00 noon on Friday 17th June 2026, with responses issued via a clarifications log. Should the Fund choose to carry out 1-2-1’s with respondents these will take place by mid-August 2026. Respondents can indicate whether they are open to a follow up meeting to discuss feedback they provide as part of their RFI response. Please note that due to time and resource constraints, it may not be possible for NWF to meet with all interested suppliers. In the event that the level of supplier interest in our market engagement activities exceeds our capacity to accommodate individual meetings, we reserve the right to schedule meetings on a first come, first served basis or with a representative sample of those who have submitted requests. NWF takes the view that this will constitute a fair mechanism to ensure that a range of suppliers within the market are represented (e.g., by similar solutions or responses). To ensure transparency and equal treatment, all relevant information shared by NWF with suppliers during these meetings will also be made available to the wider market at a later date. Please note that participation in this engagement will not confer any advantage or preference in relation to any future procurement process. Further information will be able to be found in the documents in Atamis. To access, please register on Atamis, available on the following link:  https://atamis-3929.my.site.com/s/Welcome and search for the opportunity “C1314 - Insurance Brokerage Services - Request for Information”. Atamis guidance: To access user guidance that shows how to access opportunities, create and submit bids and to send clarification requests through the message centre, please click here: https://suppliersupport.atamis.co.uk/hc/en-gb and https://services.atamis.co.uk/docs/Supplier_User_Guide.pdf

Contact

Address
2 Whitehall Quay, Leeds, LS1 4HR, Leeds
Contact name
Freddie Hudson-Evans

Bid documents

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Identifiers

Buyer reference
C1374
Notice ID
097293-2026
OCID
ocds-h6vhtk-06ac80

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External ID: fts-ocds-h6vhtk-06ac80 • Added 3 June 2026