Allianz has become one of the International Olympic Committee’s (IOC) elite TOP (The Olympic Partners) sponsors, following a deal with the sports governing body of Olympic Games. The insurance brand’s deal with IOC will also see it serve as a global partner of the International Paralympic Committee (IPC). The deal has an estimated total value of $400 million across eight years. With a total of 52 sport sponsorship deals globally, Allianz has emerged as the largest spending and most active insurance brand in sports sponsorship in 2024, reveals GlobalData, a leading data and analytics company.

GlobalData’s latest report, “Sponsorship Sector Report – Financial Services (Insurance),” reveals that soccer dominates both the annual spend and volume of deals within the insurance sector in 2024. The largest deal in in terms of annual value across the insurance sector is the IOC’s partnership with Allianz.

Olivia Snooks, Sport Analyst at GlobalData, comments: “Allianz being one of the IOC’s elite TOP sponsors, which is the highest level of Olympic sponsorship, the brand can gain a huge amount of brand awareness and reach. As the Olympics is the largest sporting event globally, that is why the value of the Allianz’s deal is so high.”

Soccer occupied the dominant share both in terms of the annual spend and volume of deals within the insurance sector, with 361 deals collectively worth an estimated $420.51 million annually. AIA’s deal with Tottenham Hotspur is the largest deal in terms of annual value within soccer. The Pan-Asian insurance company agreed to serve as Tottenham Hotspur’s primary shirt sponsor, covering the 2019-20 to 2026-27 period.

Snooks continues: “AIA has been in partnership with Tottenham Hotspur since 2013. For the 2013-14 season, AIA served as the team’s primary shirt sponsor for domestic FA Cup and Capital One Cup. As the partnership has progressed, the deal length has lengthened, with the current partnership lasting eight years, reflecting the commitment between the insurance brand and the club.”

Insurance brands with headquarters across the Americas region have the largest annual spend and deal volume across all the regions. The largest deal across the region is Nationwide Insurance’s partnership with the National Football League (NFL). The deal is worth an estimated $45 million annually across two years.

Snooks concludes: “The ‘big 4’ sports leagues across the Americas that include NFL, Major League Baseball, National Hockey League, and National Basketball Association have huge commercial value. Brands partner with these leagues as the commercial power expands beyond just the US, and thus it is not surprising that the brands headquartered in the US focus their sports sponsorship within the region.”