Swiss Re is selling its iptiQ European insurance unit to Allianz Direct, pending regulatory approval.

Swiss Re is selling its European property and casualty unit, iptiQ, to Allianz Direct as part of its strategy to exit the iptiQ business. The deal includes over 100 employees and all distribution agreements, but financial details were not disclosed. The acquisition, pending regulatory approval, is expected to close in mid-2025 and aims to enhance Allianz Direct's presence in the B2B2C insurance market across Europe.

November 05, 2024
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