IT services company, Tata Consultancy Services (TCS), has signed a multi-year transformation and managed services agreement with Canada Life, a global life and pensions insurer, to modernise its IT infrastructure across Europe.
Under the agreement, TCS will use its artificial intelligence (AI) and digital capabilities to transform and manage Canada Life’s data centres, core infrastructure, end-user computing systems, and software lifecycle management services.
The company said the initiative aims to improve operational resilience, increase automation, and enhance user experience for customers. The partnership will also support Canada Life’s long-term technology modernisation plans and help the insurer scale its technology services in line with changing business requirements.
“The program aims to deliver high-quality, cost-effective, performance driven IT services while helping Canada Life accelerate its technology strategy and achieve stronger business outcomes. The partnership will also help Canada Life scale its technology services more effectively and be nimble to changing business needs,” TCS said in its regulatory filing.
TCS to expand infrastructure talent in Europe
As part of the agreement, TCS will strengthen its infrastructure services workforce across the UK, Ireland, the Isle of Man and Germany. The company said it will invest in employee learning, certifications and career development programmes.
About TCS
TCS, part of Tata Group, is a leading global IT services. Founded in 1968, the company operates across 56 countries through a network of service delivery centres and helps enterprises adopt technologies ranging from cloud and data analytics to artificial intelligence.
TCS said it has a strong track record of supporting digital transformation programmes for insurance, life and pensions providers across the UK and Europe.
The latest deal strengthens the company’s position in the banking, financial services and insurance (BFSI) sector while supporting its continued expansion in the UK and Ireland. TCS said the partnership will further enhance its ability to deliver end-to-end services to insurance clients across the region.
TCS generated consolidated revenues of over $30 billion in FY26.
TCS share price
The share price of TCS has declined 1.51% in the opening trade following the news.
TCS shares has fell 15.35% in last three months. On year-to-date basis, the stock has declined 32.94%.
