The International Olympic Committee (IOC) has further shored up its sponsor roster after losing several big clients by extending its partnership with Allianz to 2032.
Allianz has also added a further four years to its deal with the International Paralympic Committee (IPC), which will conclude after the Brisbane 2032 Games.
The insurance giant joined the top tier of IOC and IPC sponsors in 2021 on a contract that took it up to the LA 2028 Olympics.
“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,” said Allianz CEO Oliver Bate.
“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 Allianz deal also sees the company partner with the IOC and IPC for Winter Olympics and Paralympics, including Milan Cortina 2026 and French Alps 2030.
Its extension is a boost to Olympic chiefs following the loss of Japanese brands Panasonic, Toyota and Bridgestone in recent months.
AB InBev, maker of Budweiser, extended its IOC partnership until 2032 last month, when Chinese consumer electronics company TCL also joined the programme.
“We are delighted that following the success of the Olympic Games Paris 2024, we will extend our partnership with Allianz for another four years,” said outgoing IOC president Thomas Bach.
“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.
“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.”
It comes a week before IOC members elect Bach’s successor, with Lord Coe among the leading candidates.
Allianz has a strong presence in the stadium naming rights market, with Twickenham last year joining venues in Munich, Turin, Nice, Sydney and Minnesota in its portfolio.