Allianz X, the digital investment arm of the Allianz Group, has announced a US$35 million investment in Indonesian ride-hailing platform GO-JEK, the company said in a statement on Wednesday (April 11). This investment is Allianz X’s first investent in a Southeast Asian-headquartered company and it made Allianz Group to become GO-JEK’s sole international insurance shareholder.

Allianz Indonesia and GO-JEK commenced a strategic partnership two years ago, whereby Allianz Indonesia provided health insurance services to GO-JEK drivers. In 2017, this offering was expanded to allow GO-JEK drivers to purchase health insurance for their families. GO-JEK’s investment is expected to increase access to insurance products and services for GO-JEK’s customers.