'Property, being the largest asset class in the Southeast Asian market, presents a valuable growth opportunity to Allianz entities in the region,' said Carsten Middendorf, Investment Director at Allianz X. 'With this investment, we look forward to helping 99.co maintain its position as a leading property platform and developing a strong strategic partnership in the long term.'

Allianz X invests in digital companies that are part of the ecosystems related to insurance. Asia-headquartered BIMA, Gojek and Halodoc are Allianz X portfolio companies.

'The PropTech segment is a key ecosystem for future growth. We look forward to co-creating and distributing innovative, digital-first insurance products and services via the 99.co platform,' added Peter Van Zyl, President Director & CEO of Allianz Utama Indonesia. 'Our partnership is aligned with the wider Allianz Asia Pacific strategy and enables us to address emergent and mass customer segments currently underserved by insurance.'

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Allianz SE published this content on 21 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2019 11:22:12 UTC