Allianz and BBVA will combine expertise in underwriting, data and business analytics to digitally integrate insurance into banks` customer journey and build together an innovative new bancassurance platform. Customers now have easy access to the alliance`s insurance solutions through BBVA`s extensive branch network (around 2,600 branches in Spain) and leading digital platforms. With non-life contribution revenue of €2.4 billion in 2019, Allianz Seguros is one of the top three non-life insurers in Spain. First, the partnership will focus on the UK. The goal is to create the companies to provide next-generation auto insurance products. Allianz and Telefónica have entered into an agreement for the creation of a joint venture for the use of Fibre-to-the-Home (FTTH) in Germany. Allianz Partners has signed a partnership agreement with the British Insurtech Wrisk with its Allianz Automotive branch. “We are very pleased to establish a long-term bancassurance relationship with BBVA in Spain,” said Iván de la Sota, Chief Transformation Officer of Allianz SE. “This partnership strengthens our market position and demonstrates our strong commitment to continue to grow in Spain in these challenging times. Together with BBVA, we want to develop new innovative insurance solutions that are simple and attractive to customers. Melbourne-based technology company Locomote is one of Australia`s fastest growing technology companies. As a global company, Locomote enables companies to manage all aspects of their business travel, including bookings, due diligence, authorization, budgets and expenses – from any device in the world.
Since its launch in 2014, Locomote has changed business travel for companies like ANZ, Allen & Overy and Medibank. Melbourne, 12 January 2015 – Locomote today announced a framework agreement with travel insurance and assistance company Allianz Global Assistance to help organisations protect business travellers in the event of an emergency. The agreement provides for the creation of an insurance joint venture to which BBVA Seguros will add assets and liabilities related to non-life insurance activities. The in-Force business transferred to the new joint venture amounts to approximately 300 million gross premiums written from 2019 on or after 2019. BBVA Seguros will sell a 50% plus a share of the new joint venture to the alliance at an initial fixed price of approximately €277 million, which will be adjusted based on the change in the JV`s equity between the signing and the closing date. In addition to the fixed price, the Alliance will pay a variable price of up to €100 million, with regard to the achievement of certain business objectives and the achievement of some expected steps in the integration plan agreed by both parties. The agreement provides for BBVA to market exclusively the insurance products of the joint venture for a period of 15 years. If a job has a registered agreement, the premium does not apply. . . .