Allianz increases investment fund to €1bn to focus on insurtech

By Olivia Minnock
Germany-based multinational insurance giant Allianz has decided to boost the size of its technology investment fund to €1bn. Allianz X is the digital...

Germany-based multinational insurance giant Allianz has decided to boost the size of its technology investment fund to €1bn. 

Allianz X is the digital investment unit of the Allianz Group, and is looking to invest in more digital companies in the areas of insurance and asset management. The extra cash injection makes the fund one of the largest of its kind in Europe. 

SEE ALSO: 

Some of the organisations the fund has invested in as part of its growing insurance ecosystem span mobility, connected property, connected health, wealth management and cybersecurity. Now, the company states that thanks to its successful collaborations with startups thus far, it will increase the size of Allianz X. 

Allianz X CEO Nazim Cetin commented on the investment: "We are very excited about raising our investment budget to €1bn and will use the funds entrusted to us to both strengthen our portfolio and build strong, global platforms that create new businesses for Allianz." 

Iván de la Sota, chief business transformation officer of Allianz SE, said: "Our digitalisation approach is multifaceted; Allianz X is a valuable addition - not only in meeting the changing expectations of our customers." 

 

 

Share

Featured Articles

FinTech LIVE New York – Reasons to Attend

Returning June 2024, FinTech LIVE New York will be the ultimate event to connect the world’s influential fintech leaders in North America

FinTech LIVE New York – One Month to Go!

Just one more month to go until FinTech LIVE New York, don’t miss out on attending the ultimate virtual event for fintech leaders in North America

The Global FinTech Awards: The Categories – Part 3

Discover the awards that your company, executive or project could be honoured with at The Global FinTech Awards 2024

SUBMISSIONS EXTENSION: The Global FinTech Awards 2024

Tech & AI

Joel Perlman, Co-founder, OakNorth joins FinTech LIVE London

Financial Services (FinServ)

The Global FinTech Awards: The Categories – Part 2

Financial Services (FinServ)