The Allianz Life Insurance Company of North America has been selling annuities, life and long-term care insurance since its inception in 1896, according to company press release “Allianz Life Ratings Reaffirmed and Record Earnings Reported.” Allianz Life is based in Minneapolis; their parent company is Allianz SE, a global financial services group. Both their Moody’s and Standard & Poor’s ratings were reaffirmed this year. Moody’s rates Allianz Life A2 (Good) and their S & P rating is AA (Very Strong).
The second quarter of 2009 was record setting for the company’s profits, which were up 77% from last year. Their capital position also improved significantly with help from their parent company. Allianz Life’s President and CEO is grateful to have such a strong parent company during difficult economic times. They also believe that they have benefited from their conservative investment portfolio. Using a 401k annuity to ensure guaranteed income for life is becoming more popular as people live longer. Allianz Life has new variable annuity rider options that it will introduce next week to keep up with consumer demand for annuities.