The International Olympic Committee (IOC) has bolstered its sponsorship portfolio by renewing its partnership with Allianz until 2032, following the departure of several major sponsors.
In addition to extending its IOC agreement, Allianz has also prolonged its commitment to the International Paralympic Committee (IPC), with the partnership now set to conclude after the Brisbane 2032 Games, as reported by .
The insurance behemoth initially joined the top echelon of IOC and IPC sponsors in 2021, with a contract that was due to expire after the LA 2028 Olympics.
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Allianz CEO Oliver Bate expressed his enthusiasm for the extended partnership: "The Olympic and Paralympic Games Paris 2024 inspired the world as well as our employees, customers and business partners, elevating and uniting people through sport," he said.
"We also saw very positive benefits for our business and the Allianz brand. We are therefore delighted – particularly against the backdrop of an increasingly divided world – to extend this successful partnership through 2032 and continue our support for the unifying spirit of the Olympic and Paralympic Movements."
The renewed deal with Allianz also includes partnerships for the Winter Olympics and Paralympics, such as Milan Cortina 2026 and French Alps 2030.
This extension comes as a significant boost for the IOC, which recently saw the exit of Japanese companies Panasonic, Toyota, and Bridgestone.
Last month, AB InBev, the brewer behind Budweiser, also extended its IOC partnership to 2032, and TCL, a Chinese consumer electronics firm, joined the sponsorship programme.
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Outgoing IOC president Thomas Bach expressed his delight at the extension of their partnership with Allianz for another four years, following the success of the Olympic Games Paris 2024. He said: "Allianz is a world leader in its industry and believes in the Olympic vision of building a better world through sport, and supports our commitment to athletes around the world. " He added: "Now more than ever the world needs the power of sports to unite people. The IOC and Allianz share this vision and this is why we consider our partnership more important than ever."
This announcement comes just a week before IOC members elect Bach's successor, with Lord Coe among the frontrunners.
Allianz has a significant footprint in the stadium naming rights market, adding Twickenham last year to its portfolio that includes venues in Munich, Turin, Nice, Sydney and Minnesota.