Hundreds of insurance jobs are secured at Pearl in Peterborough as plans to outsource its administration to a software services firm are finalised. All staff will remain in the Pearl building, although the majority will be employed by Indian software firm Tata.
The deal means 950 of Pearl's 1100 staff will be employed by Tata with the remaining 150 staying with Pearl.
Tata will do most of the administrative work for Pearl's four million life insurance and pension policies. 'Centre of excellence'
Tata Consultancy Services has declared a commitment to building "a centre of excellence" in Peterborough, Cambs, from which it can develop its business further in the UK.
A spokesperson for the Pearl Group said the plans are good news for their employees.
All staff will have a job either in the new business or within Pearl, and everyone will remain in the Pearl building in Peterborough, said a statement from Pearl.
Tata Consultancy Services is India's largest software services firm. BBC News