Danish insurer Tryg to ink outsourcing deal with TCS

BANGALORE: Danish insurance group Tryg has decided to terminate the group's IT operating agreement with Computer Sciences Corporation (CSC) Denmark effective August next year. The insurance provider is planning to enter into a 4-year deal with TCS, the company announced on its website.

"The agreement will run for a minimum of four years and ensure more modern and sustainable IT operations in Tryg with an economy meeting the previously announced cost-saving targets," it said.

Sources told TOI that the deal could be valued at around $200-$250 mn. A TCS spokesperson said the company doesn't comment on market speculation.

Tryg, present in Denmark, Norway and Sweden, is listed on the Nasdaq OMX Copenhagen. It employs 3,800 people and has 2.7 mn customers.

Previously, CSC signed a $192 million IT outsourcing contract renewal deal with Danish insurer in 2008. Under the terms of the contract, CSC provided IT infrastructure services, including help desk, mainframe, mid-range, network, web hosting, and print and distributed computing.

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