A large U.S. insurance business is sticking with its current information technology vendor.
John Hancock Financial Services, Boston, a unit of Manulife Financial Corp., Toronto, has agreed to extend an applications outsourcing contract with Computer Services Corp., El Segundo, Calif., 2 more years, through May 2011.
The newly negotiated contract provisions have an estimated value of about $50 million, CSC reports.
CSC helps Hancock support 1 million fixed and variable annuity contracts.
CSC has been supporting Hancock’s
CSC has supported Hancock’s annuity business since 1987.