CSC Signs Contract Extension with Zurich Insurance Group for Global Application Services
News Release -- September 10, 2012
FALLS CHURCH, Va., Sept. 10 – CSC (NYSE: CSC) announced today that it has signed a master service agreement to provide information technology (IT) application services to Zurich Insurance Group, a leading global, multi-line insurance provider. The contract replaces the existing agreement, signed in July 2004, and covers application maintenance and development services in Switzerland, Canada, Germany, Italy, the United Kingdom and the United States.
Representing one of the largest contract awards of its kind in the insurance industry, the contract has a seven-year term with options to extend for a further three years. The contract was signed in the second quarter of CSC fiscal year 2013, and services will commence under the new master service agreement on January 1, 2013.
“Zurich’s selection of CSC underscores our wealth of experience in the insurance industry and the success of our global service delivery team,” said Ray August, president of CSC’s Financial Services Group.
For more information about CSC’s application services, visit www.csc.com/application_services.
About CSC in Financial Services
More than 1,200 major banking, insurance, investment and wealth management, and securities firms rely on CSC’s global financial services team to turn their ambitions into realities. With a track record for delivering software, consulting, and IT and business process outsourcing and services at scale, CSC brings a deep understanding of the financial services business and a collaborative culture to one of the industry’s most engaged client communities. For more information, visit www.csc.com/financialservices.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 96,000 employees and reported revenue of $15.8 billion for the 12 months ended June 29, 2012. For more information, visit the company’s website at www.csc.com.
Safe Harbor Statement
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended March 30, 2012 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.