TCS Expands Partnership With European Insurer Tryg, Signs New Euro 550 Mln Deal

India's largest IT services company TCS on Tuesday announced bagging a EUR 550 million (around ₹5,642 crore), seven-year deal from Scandinavian insurer Tryg.

TCS and Tryg have a 15-year partnership, and the new deal will ensure a digital transformation for the Scandinavian client, a statement said.

The IT services company will use AI and cloud solutions to simplify the insurer's IT landscape, including augmenting delivery capability, automating core processes, and elevating customer experience to drive its strategic transformation journey.

Tryg's group chief executive Johan Kirstein Brammer said this is an extension of a partnership with TCS.

"We are simplifying our IT landscape enabling us to further invest in new technology and develop our business across Scandinavia," Brammer said.

"... we will help Tryg accelerate its transformation into an agile, technology-led enterprise with AI at its core," TCS chief executive K Krithivasan said.

In the past, TCS has developed a unique model to drive an industry-first business case for Tryg's Danish and Nordic customers while achieving their strategic business goals.

TCS has been present in Denmark and Nordics for over three decades and has over 20,000 employees serving clients across banking, financial services, insurance, retail and consumer packaged goods, travel transportation and logistics, telecom, manufacturing, life sciences, and tech services.

The IT Services company had signed new deals of USD 9.4 billion in the April-June 2025 period, and had pointed out that ongoing macro challenges are impacting discretionary spends.

TCS shares closed flat at ₹3,112.15 apiece on the BSE on Tuesday, as against a 0.26% correction on the benchmark.