New York-based multinational computer technology and developer of software, IBM and Insurance major Sun Life Financial have expanded their ties with a fresh seven-year agreement, valued $242 million.

“Our partnership is being extended further to provide new highly integrated, cost-effective and intelligent solutions to support Sun Life business goals,” said Saad Toma, general manager of global technology services at IBM Canada.

Within the terms of the deal, IBM will be tasked with the latter’s information technology operations in Canada and the United States.

According to the company, new deal will add additional infrastructure and operations services to the existing processor services being rendered.

The former deal was signed in 2002.