Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, has been selected by Dutch insurance firm, REAAL N.V., to develop and modernize the mainframe applications and servicing the company's 'life insurance' portfolio.

The five-year engagement will be focused on building a scalable and best-in-class technology platform for REAAL N.V. as it looks to increase agility across the business.
 
''Developing a high level of operational and technical flexibility along with decreasing costs is critical for our business. TCS' track record in our industry and their ability to build strong client relationships make them ideally suited to help us on this journey,'' commented Marcel van de Lustgraaf, director Change and System development of REAAL N.V.  ''We are looking forward to working with TCS, which will complement our in-house business competencies to deliver a stronger, more agile IT for the business, while lowering costs.''

Shares of the company gained Rs 5.60, or 0.24%, to settle at Rs 2,309.90. The total volume of shares traded was 35,399 at the BSE (Wednesday).