The International Olympic Committee (IOC) and Allianz have agreed a deal for the insurance brand to become a partner of the Olympics from 2021.
The agreement, which is slated to end in 2028, will allow Allianz to support the Olympics and its National Committees with products around areas such as fleet and property and casualty insurance, as well as future-facing products and tech innovation.
IOC president Thomas Bach, said: “This new partnership demonstrates the global appeal and strength of the Olympic Movement, and we are delighted to be working together in the long term with Allianz to support sport around the world. Allianz has built a global business founded on trust. With this partnership, together we are building a foundation based on mutual trust. Allianz also has a strong sporting heritage and, in line with the Olympic Agenda 2020, we share a digital ambition of connecting with young people around the world to promote the Olympic values and the power of sport.”
The deal comes off the back of a prior deal that Allianz had with the International Paralympic Committee, since 2006.
Jean-Marc Pailhol, head of group market management and distribution at Allianz SE, added: “As a world-leading insurer, Allianz is directly embedded in all the great events which make and transform our global society. That is why becoming the Worldwide TOP Partner in the insurance category of the IOC and the IPC is important for us. We will work together to take both teams to the next level – digitally, commercially and globally. We’re excited about the opportunity to move Allianz into new markets, as well as strengthening our position in existing territories. Together with the IOC and the IPC, this is a perfect way to share our passion for sport and the social, physical and mental benefits it brings to humanity.”
The brand is also no stranger to sports partnerships, with its sponsorship of FC Barcelona playing a significant part in its marketing activity.
Other brands to recently sign up to a partnership with the IOC include Chinese technology giant Alibaba, which signed a major deal to be its cloud technology partner. Speaking earlier this year, Alibaba founder Jack Ma, said: "I believe in the spirit of the Olympics, the fight and the spirit of competition, and I believe the real world, and the business world, should also compete like the Olympic spirit. If we all had that Olympic spirit, the world would be more peaceful. We believe that no matter whether from a county that is big, small, rich or poor, they should have an equal chance.”