Olympics: German insurer Allianz signs up as Games sponsor from 2021 to 2028

Allianz will see its logo used at the Summer Olympics in Paris in 2024 and Los Angeles four years later.
Allianz will see its logo used at the Summer Olympics in Paris in 2024 and Los Angeles four years later.PHOTO: AFP

BERLIN (REUTERS) - German insurer Allianz said on Tuesday (Sept 18) that it had agreed to become a global Olympic sponsor for a four-Games period between 2021 and 2028 in the latest addition to the International Olympic Committee's (IOC) top-tier sponsorship programme.

Allianz, eager to access the Games' young global audience and wider sports community, will see its logo used at the Summer Olympics in Paris in 2024 and Los Angeles four years later, as well as the Winter Games in 2022 in Beijing and in 2026.

The insurer will become the IOC's 14th top sponsor.

"One of the reasons for our engagement with the IOC is that we also want to be seen by the younger generation as a partner," Allianz chief marketing officer Jean-Marc Pailhol told Germany's Handelsblatt newspaper.

Financial details of the deal were not released but the IOC was reportedly seeking about US$50 million (S$68.5 million) per year.

Long-time Olympic sponsor Coca-Cola, Intel and Panasonic are also among the 14 IOC partners. Visa, another long-time sponsor, recently extended its contract with the IOC to 2032.