Allianz and BMW Group expand global cooperation

(PresseBox) ( Munich, )
Allianz SE and BMW AG have renewed their collaboration on a global level for another five years. The CEOs of the two companies, Michael Diekmann and Dr. Norbert Reithofer, signed the extension of a Global Partnership Agreement between both groups, which was originally agreed upon in 2009, on September 3rd, 2014.

Since the start of the Global Partnership in 2009 Allianz and BMW tripled its joint customer insurance business, with the companies currently cooperating in 27 markets and distributing about 50 joint products.

The new agreement focuses on the international rollout of car and mobility-related insurance products such as car insurance, extended warranty and payment protection and also sets the basis for a global cooperation in areas such as e-mobility, used cars, sales channels and driver assistance and safety systems. Allianz products supplement the comprehensive range of financial services that BMW Financial Services offers to its customers. The goal is to provide customers with competitive and tailor-made premium products and to generate synergies on a global scale.

BMW Aftersales is now also part of the agreement. This ensures an even stronger customer focus. Efficient aftersales processes guarantee seamless claims handling and premium services for the customers.

"The last five years have proven the strength of the partnership between BMW and Allianz. With our in-depth product and sales expertise in insurance solutions, our global presence and our ability to develop innovative products and services along the automotive value chain we are confident that this successful cooperation will develop even further," says Karsten Crede, CEO of Allianz Global Automotive.

"Since the start of our global partnership five years ago, we have successfully expanded the joint customer insurance business with Allianz. It is our target to internationally expand and intensify our joint cooperation. With Allianz we do have an ideal partner, which supports us and our customers with comprehensive, transparent and high-class premium products and services on a global basis," explains Erich Ebner von Eschenbach, head of the BMW Group's financial services division.

About Allianz Worldwide Partners

Allianz Worldwide Partners is Allianz' integrated B2B2C global business line. It will deliver integrated solutions to our business partners by combining insurance, assistance and technology and providing worldwide protection and care. Three entities of Allianz, specialized in Assistance, Automotive and International Health joined forces for their client service, for a wider range of products and for investments in innovation and technology.

Allianz Global Automotive is the leading strategic partner for insurance and mobility services to car manufacturers, currently managing partnerships in more than 30 countries. Partners can choose from a broad portfolio of customized products and solutions in motor insurance, warranty, assistance.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events) (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.
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