FRANKFURT (Reuters) - German insurer Allianz is nearing a deal to outsource large parts of its in-house information technology services in a deal that a German newspaper said could be worth more than 500 million euros ($667 million).
"We want to enter a strategic partnership with a global supplier. We are currently in the final phase of selection," an Allianz spokesman said.
Daily newspaper Sueddeutsche Zeitung cited industry sources as saying a 10-year contract was likely to be awarded to IBM or Computer Sciences Corp. and would be worth more than 500 million euros.
The paper added that CSC was the frontrunner in negotiations.
The Allianz spokesman said the size of the contract would be subject to ongoing negotiations.
Reporting by Ludwig Burger; Editing by Mark Potter