Allianz to become worldwide Olympic Insurance Partner
The International Olympic Committee (IOC) and Allianz have announced that the insurer will join the ”Worldwide Olympic Partner” (TOP) Programme in 2021.
The eight-year deal, which will be activated in 2021 and run through to 2028, will see the German insurance giant work with the IOC to provide innovative and integrated insurance solutions to support the Olympic Movement, including the Organising Committees of the Olympic Games, with the ambition of providing those insurance solutions to the National Olympic Committees around the world and their Olympic teams and athletes.
Financial terms of the deal were not disclosed, but the IOC was thought to be seeking US$200 million per quadrennial, or US$50 million per year, for inclusion in its premium sponsorship category.
“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,” IOC president, Thomas Bach said.
“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 sponsorship period will cover the Olympic Winter Games Beijing 2022, the Olympic Games Paris 2024, the Olympic Winter Games 2026 and the Olympic Games LA 2028.
In China, France and Spain, Allianz will already have marketing rights from 2019 onwards.
Allianz CEO, Oliver Bäte said: “I am thrilled that we are joining a global community of athletes and people enthusiastic about sport and teamwork – in addition to our existing strong partnership with the International Paralympic Committee (IPC).
“Through the IOC’s digital and social channels, we can connect with more people than ever before and offer them our expertise in insurance.
“We believe the world is a better place when people have the courage to leave differences behind and stand together to achieve better outcomes for themselves and for the societies they live in.”