The brand will become the main sponsor of Saracens, gaining naming rights to the club's new stadium in Barnet, North West London, which is currently under construction. The stadium will be known as Allianz Park.
Allianz, which replaces sat-nav manufacturer Garmin as sponsor of the 2011 Premiership champions, is looking to convert the rugby venue into a wider community sports hub, which schools will be able to use free of charge.
David Radford, director of retail market management for Allianz, claimed that the sponsorship marked 'another important step' in helping to 'put the Allianz brand on the map' in the UK.
Radford, a former LV= marketer, who joined the UK team at Allianz a year ago, said the virtues of 'teamwork and a winning mentality' associated with the club fitted with the insurer's brand aspirations.
The Saracens sponsorship is the latest in a string of stadium-naming ventures undertaken by the insurer. In its domestic German market, the company holds the naming rights to football club Bayern Munich's home stadium, the Allianz Arena. It also sponsors venues in Sydney and Nice.
Last year, Allianz became an official global partner for Formula One motor racing, with exclusivity within the financial-services sector.
Allianz launched its biggest ad campaign to date in 2010. The TV, print, outdoor and digital push, by Grey London, positioned Allianz as a trusted provider of financial services and the 'world's strongest financial community'.