Swiss Re to sell iptiQ’s Euro P&C business to Allianz Direct
- July 22, 2025
- Posted by: Kane Wells
- Category: Insurance
In line with its strategic decision to withdraw from iptiQ, Swiss Re has agreed to sell the digital insurer’s European P&C business to Allianz Direct, the pan-European online insurer of Allianz Group.
iptiQ is a carrier based in Luxembourg that partners with other insurers, brokers, banks and consumer brands to deliver P&C and life and health insurance products to end-consumers (B2B2C).
Allianz Direct observed that acquiring iptiQ will expand its footprint further into the B2B2C segment as it takes over 130,000 of the digital insurer’s customers.
Philipp Kroetz, CEO of Allianz Direct, added, “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.”
Ef Van In, CEO of iptiQ, commented, “We are very pleased to have found a new owner for iptiQ’s European P&C business.
“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.
“We remain fully committed to supporting all our clients, partners and colleagues during the transition period.”
The transaction is expected to close in Q2/Q3 2025, subject to customary closing conditions, including regulatory approvals.
Earlier this year, Swiss Re announced its plans to withdraw from iptiQ as it had concluded that, in a strategic context, it was “not the best owner for this business in the long term.”
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