(ATR) German insurer Allianz has agreed a deal to become a top-tier partner from 2021 to 2028.
The sponsorship covers four Olympics, including the Beijing 2022 Winter Games, Paris 2024, Winter Olympics 2026 and Los Angeles 2028. Allianz will have marketing rights from 2019 onwards in China, France and Spain,
No financial figures were disclosed, but the deal to become the IOC’s 14th TOP sponsor may be worth over $200 million.
At a ceremony in Berlin, Jean-Marc Pailhol, head of group market management and distribution at Allianz SE, said the company had been in talks with the IOC about a sponsorship deal for nine months.
He said the partnership of the largest sport movement and largest insurer in the world was a "no brainer".
Describing Allianz as a solid, efficient and resilient company, Pailhol said the IOC sponsorship would have a huge impact on the awareness of the Allianz brand, especially in China, across Asia and the U.S.
"We want to add emotion. We want to add innovation. This partnership makes a lot of sense," he told an audience of VIPs and Olympic movement officials on Tuesday.
Allianz wants to use the power of sport to connect with new, younger audiences via digital channels, including the Olympic Channel.
Under the agreement, Allianz will work with the IOC to provide innovative and integrated insurance solutions to support the Olympic Movement, including the Olympic organising committees and NOCs, their teams and athletes.
Having supported the International Paralympic Committee since 2006, Allianz will also become a worldwide Paralympic partner from 2021 as part of the IOC agreement.
"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," said IOC president Thomas Bach in a statement.
Reported by Mark Bisson
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