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.