Allianz X and Debeka, a German insurance and financial services provider, have invested in SDA SE Open Industry Solutions. Together with existing investors SIGNAL IDUNA and the msg group, the new strategic partners will support the development of a new standard for setting up and delivering digital services in the insurance industry.

Allianz has received the approval from the China Banking and Insurance Regulatory Commission (CBIRC) to commence operation of China’s first fully foreign-owned insurance holding company. With this, Allianz will strengthen its proposition in the country and position the business to capitalize on the fastest growing economy in the world.