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Swiss Re agrees to sell iptiQ’s European P&C business to Allianz Direct

Written by Adam Cadle
05/11/2024

Swiss Re has agreed to sell iptiQ’s European P&C business to Allianz Direct, in line with its strategic decision to withdraw iptiQ.

Allianz Direct will take over the risk carrier based in Luxembourg (iptiQ EMEA P&C S.A.), more than 100 employees currently working in Switzerland, Germany, Spain, the Netherlands and Italy, and all distribution agreements.

Philipp Kroetz, CEO Allianz Direct: "The acquisition of iptiQ's European P&C business underlines our commitment to grow our footprint in key European markets, both in B2C and B2B2C distribution. We are excited to welcome the team from iptiQ to Allianz Direct and look forward to our future success. I am confident that together iptiQ and Allianz Direct can leverage the platform's scale and competitiveness for its products and operations to drive further success for our business partners."


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