Mumbai: Tata Consultancy Services on Friday bagged a $2-billion contract from US insurance group Transamerica, close on the heels of another mega deal worth $2.25 billion it had signed with TV rating agency Nielsen.

The partnership is expected to enable Transamerica to enhance its digital capabilities by bringing its more than 10 million policies into a single platform.

The savings to Transamerica could be $70 million a year growing to $100 million, TCS said.

The Indian company will make job offers to all Transamerica employees supporting the life insurance, annuity and supplemental health insurance business lines, thus protecting around 2,200 American jobs.

Further, employees transitioning to TCS will be given the opportunity to remain in the same US cities where they are based now. TCS will also operate from Transamerica's current offices in various American cities.

"TCS will provide valuable administration and quality customer service, and Transamerica will continue to engage with our customers, clients and advisers in the most meaningful ways to them by utilising our digital engagement platforms and developing new solutions that help people save, protect, invest and retire," Mark Mullin, Transamerica, president and CEO, said.

TCS also plans to make a significant investment in the region, most notably by establishing its new North American insurance hub for business operations in Cedar Rapids, Iowa.

Apart from offering roles to the 2,200 Transamerica employees, TCS plans to hire locally in Iowa, set up relationships with educational institutions and help employees with professional development to gain digital skills and fluency, it said.

The announcement came on a day the shares of TCS ended 0.5 per cent lower after its net profit dropped 3.6 per cent in the third quarter ended December 31 2017.

The stock fell 0.56 per cent to end at Rs 2,772.90 on the BSE. During the day, it dipped 1.59 per cent to Rs 2,744. On the NSE, the shares of the company lost 0.50 per cent to close at Rs 2,776.35.