Swiss Re sells iptiQ's European P&C unit to Allianz Direct

This move brings over 130,000 iptiQ customers into Allianz Direct's portfolio.

Swiss Re has agreed to sell iptiQ’s European property and casualty (P&C) business to Allianz Direct, aligning with its decision to exit the iptiQ business.

Allianz Direct, part of Allianz Group’s online insurance division, will acquire iptiQ EMEA P&C S.A., based in Luxembourg, along with over 100 employees across Switzerland, Germany, Spain, the Netherlands, and Italy, as well as all distribution agreements.

This move brings over 130,000 iptiQ customers into Allianz Direct's portfolio.

The acquisition will support Allianz Direct’s strategy to expand within the B2B2C segment by utilising iptiQ’s established partnerships with insurers, brokers, banks, and consumer brands.

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