BBVA Allianz Seguros begins operations in Spain

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BBVA Allianz Seguros, the bancassurance joint venture between Allianz Seguros and BBVA announced in April of this year, begins its operations in Spain. The new venture combines BBVA's banking expertise and distribution capacity in physical and digital channels with Allianz’s innovative, simple and digital non-life insurance solutions. 

The venture creates one of the largest non-life bancassurance alliances by coupling two global leaders with common strategic priorities. The new company will offer non-life products (excluding health insurance) exclusively for BBVA’s Spanish clients over the next 15 years.

Miguel Pérez Jaime, currently Managing Director of Bancassurance at Allianz Seguros, has been named Managing Director of BBVA Allianz Seguros.

BBVA Allianz Seguros
The Allianz Group is one of the world's leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.
* Including non-consolidated entities with Allianz customers.
** As of September 30, 2023.
*** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, and has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey’s Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions through an easy and convenient experience. The institution rests on solid values: Customers come first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.

Press contacts

Holger Klotz
Allianz SE
Daniela Markovic
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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