International Olympic Committee (IOC) says it has now signed insurance company Allianz as a worldwide sponsor from 2021 through to the 2028 Los Angeles Olympics.
The value of the deal, which includes becoming a partner of the Paralympics, was not given.
The IOC has 13 worldwide sponsors for a four-year commercial cycle leading to the 2020 Tokyo Olympics.
Top-tier sponsors were worth $1 billion to the IOC for the cycle tied to the 2016 Rio de Janeiro Olympics.
Reacting to the deal, the IOC President Thomas Bach said: “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. Allianz has built a global business founded on trust. With this partnership, together we are building a foundation based on mutual trust.”
On his part, Allianz CEO Oliver Bäte said: “I am thrilled that we are joining a global community of athletes and people enthusiastic about sport and team work – in addition to our existing strong partnership with the International Paralympics 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.”
Tsunekazu Takeda, the IOC’s Marketing Commission Chair, remarked: “We are delighted to announce this new partnership with one of the world’s leading companies in its field, and we look forward to beginning a new, exciting journey together.”
Jean-Marc Pailhol, Head of Group Market Management and Distribution at Allianz SE, said: “As a world-leading insurer, Allianz is directly embedded in all the great events which make and transform our global society. That is why becoming the Worldwide TOP Partner in the insurance category of the IOC and the IPC is important for us.
We will work together to take both teams to the next level – digitally, commercially and globally. We’re excited about the opportunity to move Allianz into new markets, as well as strengthening our position in existing territories.
Together with the IOC and the IPC, this is a perfect way to share our passion for sport and the social, physical and mental benefits it brings to humanity.”
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.
The Germany-based insurer holds naming rights to home stadiums of Bayern Munich and Juventus, plus venues in Sydney; Nice, France; Sao Paulo; and St Paul, Minnesota.