A large German insurer has hired an outside company to run computer operations for its U.S. subsidiaries.
Allianz S.E., Munich, has awarded a $330 million, 7.5-year contract to International Business Machines Corp., Armonk, N.Y., to run the information systems for its Fireman's Fund Insurance Company unit and its Allianz Life Insurance Company of America unit.
Fireman's Fund already has been relying on IBM to handle some information services, but the move to put IBM in charge of information systems for Allianz Life, Golden Valley, Minn., is new, Allianz says.