Allianz withdraws sponsorship from Madrid Ideas Festival

The insurance company Allianz has withdrawn its sponsorship from the Festival de las Ideas de Madrid. This decision follows threats from approximately thirty participants to boycott the event if the German firm remained a patron.

Critics of the sponsorship accused Allianz of collaborating with the state of Israel regarding the conflict in Palestine. The festival is organized by the Círculo de Bellas Artes and receives support from public institutions, including the Comunidad de Madrid.

In response to the situation, the Mayor of Madrid, Martínez Almeida, has accused the organizers of censorship and indicated that the city council may rethink its support for the event.