Zurich Financial Services Group has entered exclusive negotiations with IT outsourcer CSC 10-year contract valued at $2.4bn.
The contract is believed to cover managed data centre and IT infrastructure services in Europe and North America, including data centre centralisation and server virtualisation.
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The deal is believed to allow country-specific deals between Zurich and CSC.
CSC already holds a $399m, six-year global IT desktop outsourcing agreement and signed its first contract with Zurich in 2004 for a $1.3bn, seven-year for outsourced applications.
If the deal goes through it is expected to take effect early next year.
CSC had not responded to requests for an interview by the time CW went to press.