• Umbrella agreement signed for global automotive insurance partnership
  • Allianz to become exclusive partner for automotive insurance business in Italy

Berlin/Munich – Daimler Financial Services AG and Allianz SE have concluded an agreement on their collaboration worldwide. Allianz thus becomes Daimler’s strategic partner for the international automotive insurance business.

In addition to existing collaborations in numerous markets in Eastern Europe and in Australia, Allianz will now also manage the automotive insurance business for Daimler vehicles in Italy. With this new agreement, Allianz becomes Daimler Financial Services’ preferred partner for automotive and warranty insurance whenever the latter calls for bids in its approximately 40 foreign markets.

The new agreement does not affect the existing cooperation agreement between Mercedes-Benz Bank and HDI Direkt Versicherungs AG concerning the automotive insurance business in Germany.

“Daimler has been working together with Allianz for more than 80 years now,” says Dr. Martin Schindewolf, CEO and Chairman of Daimler Insurance Services GmbH. “This agreement will allow us to further strengthen our partnership in the international automotive insurance business.”

Daimler Financial Services is establishing strategic partnerships in order to further intensify its collaboration with selected insurance partners.

“We have concentrated our worldwide expertise in the Global Automotive business unit so that we can form real development partnerships with customers like Daimler Insurance Services,” says Karsten Crede, Board Member of Allianz Global Corporate & Specialty AG. “We will support Daimler’s commitment to premium quality and technological leadership by developing suitable insurance products in order to expand the brand experience of Daimler vehicles with an additional insurance-related element.”

Daimler Financial Services offers a range of automobile-related insurance products, including automotive insurance, gap insurance, payment protection insurance and extended warranty insurance, in more than 40 countries. The company’s Insurance Services unit also insures the Daimler production locations, transport and product liability risks worldwide and manages activities such as the pension plans and insurance of the Group’s employees in Germany.

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