Suncorp has denied Indian media reports that 2000 jobs will be relocated to the subcontinent in the latest furore over outsourcing.

Reports from Indian news sites say two business process outsourcing (BPO) companies – World Network Services (WNS) and Genpact – have secured contracts worth Rs15 billion ($285 million) from Suncorp over five years, the bulk going to WNS.

The alleged deal is reported to be the largest outsourcing contract awarded to an Indian company in nearly a decade.

Reports from Indian news sites Money Control and BPO Watch directly contradict Suncorp’s previous statements that only 71 back-office jobs are being sent offshore to India as part of a cost-cutting drive titled “Simplification”.

Suncorp senior spokesman Rebecca Vogelsang says the numbers quoted in the articles are “speculative”.

“It is common knowledge that Suncorp is working with WNS and Genpact to identify ways to improve its business,” she said.

“There is no agreement that contains future commitments on the value of projects or the potential number of jobs that might be involved.”

The move follows 50 layoffs by Suncorp last November and a number of new year job cut announcements in the financial services sector, led by ANZ and Westpac.

In September Suncorp denied union claims that thousands of jobs could be at risk if the company goes ahead with further offshoring, with a Suncorp spokesman describing the union’s comments as “ill-informed speculation”.