Swiss Re to Divest iptiQ's European P&C Business to Allianz Direct

Swiss Re has reached an agreement to sell iptiQ's European Property & Casualty business to Allianz Direct. This transaction involves the Luxembourg-based iptiQ EMEA P&C S.A. and its operations in Switzerland, Germany, Spain, the Netherlands, and Italy. Finalization of the deal is anticipated in the second or third quarter of 2025, pending regulatory approvals.

This move aligns with Swiss Re's strategic decision to exit iptiQ, aiming to ensure optimal outcomes for all stakeholders. Allianz Direct will inherit over 100 iptiQ employees and more than 130,000 customers, enhancing its B2B2C operations.

Allianz Direct views this acquisition as an extension of its commitment to expanding in European markets, leveraging iptiQ's expertise. The integration promises a strengthened platform and competitive edge in product offerings.