US insurer Transamerica terminates $2 billion contract with TCS

TCS' $2 billion, 10-year deal with Transamerica, the American arm of Dutch insurer Aegon NV, has been scrapped 5.5 years after it was signed. TCS will complete the transition in around 30 months. As per reports, Transamerica is planning to cut its dependence on third-party IT services firms such as TCS and do much of the tech work itself.