Swiss Re will sell iptiQ’s European Property & Casualty (P&C) business to Allianz Direct, aligning with its strategic exit from iptiQ. This transaction, which covers iptiQ EMEA P&C S.A., a Luxembourg-based risk carrier, is expected to close in Q2 or Q3 2025, pending regulatory approvals.
Allianz Direct, Allianz Group’s online insurer, will acquire the European P&C operations across Switzerland, Germany, Spain, the Netherlands, and Italy, along with over 100 employees and existing distribution agreements.
iptiQ, a digital insurer, partners with insurers, brokers, banks, and brands to deliver P&C, life, and health insurance solutions. Swiss Re decided to divest iptiQ earlier this year, determining it was not the optimal long-term owner.
Jef Van In, CEO of iptiQ, expressed satisfaction with the new ownership, describing the transaction as pivotal in Swiss Re’s planned exit from iptiQ and a positive step for all stakeholders. He emphasized Swiss Re’s commitment to supporting clients and partners during the transition.
This transaction is an important milestone in Swiss Re’s plan to withdraw from the iptiQ business as we strive to deliver the best possible outcome for the different units within the business and for all our stakeholders
Jef Van In, CEO of iptiQ
This acquisition will bolster Allianz Direct’s presence in the B2B2C segment, adding over 130,000 iptiQ customers and aligning with its growth strategy.
Philipp Kroetz, CEO of Allianz Direct, welcomed iptiQ’s team, expressing confidence in the potential for shared success and enhanced scale in key European markets.
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.
Philipp Kroetz, CEO of Allianz Direct
“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”, says Philipp Kroetz.
