Allianz Life

Last updated
Allianz Life
Formerly
  • North American Casualty (1896-1912)
  • North American Life and Casualty (1912-1993)
Company typeSubsidiary
Industry Financial services
Founded1896;128 years ago (1896)
Headquarters Golden Valley, Minnesota
Key people
Jasmine Jirele (CEO)
Products Insurance
Parent Allianz
Website allianzlife.com

Allianz Life is an American life insurance company owned by German global financial services group Allianz. The company provides services in all states except for New York, where annuities and life insurance products are offered by Allianz Life Insurance Company of New York . [1]

Contents

Allianz Life offers various products, including fixed and variable annuities and life insurance. These products are offered through a network of more than 100,000 agents nationwide.

The company is a principal subsidiary of Allianz SE, a European global financial services group that is the 31st largest corporation in the world based on revenue (Fortune Global 500, July 2013). [2] Allianz SE employs nearly 155,000 people worldwide.

History

Allianz Life Insurance Company of North America began as North American Casualty, started by Henry M. Little of Minneapolis, Minnesota in 1896. In 1912, North American Casualty merged with North American Life Association – founded in 1905 by Zeke H. Austin with capital from Henry Little [3] – to become North American Life and Casualty (NALAC). Howell Palmeroy Skoglund (known as H. P. Skoglund) was the company's president from 1933 to 1965 as well as one of the original owners of the Minnesota Vikings. [4]

In 1979, North American Life and Casualty Co. was acquired by Allianz, a German conglomerate, which renamed the company Allianz Life Insurance Co. of North America in 1993. [4] [5]

Today, Allianz Life and Allianz Life of NY are the only Allianz Group subsidiaries providing life insurance in the U.S. [6]

In 2010, Allianz Life was recognized by the Minneapolis Star Tribune as one of the top 100 workplaces in the Twin Cities, ranking fifth on the list of top public companies. [7] Allianz Life was also honored that year as one of Minneapolis/St. Paul Business Journal’s Best Places to Work winners, ranking eighth on the list of large companies with more than 1,000 full-time Minnesota employees. [8]

On July 25, 2017, Allianz became the title sponsor of MLS's Minnesota United FC stadium in Saint Paul, Allianz Field. [9]

In July 2020, SIMON Annuities and Insurance Services LLC agreed to add Allianz Life Insurance Company of North America to the Raymond James investment management annuity network and digital marketplace. [10]

Related Research Articles

<span class="mw-page-title-main">MetLife</span> Large American insurance company

MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with around 90 million customers in over 60 countries. The firm was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

The Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services. The company has major offices located in Baltimore, Maryland; Cedar Rapids, Iowa; Denver, Colorado; Canton, Massachusetts; Harrison, New York; Knoxville, Tennessee; Plano, Texas; St. Paul, Minnesota and St. Petersburg, Florida. Additional affiliated offices are located throughout the United States. In 1999, it became an independent subsidiary of multinational company Aegon.

<span class="mw-page-title-main">Lincoln National Corporation</span> American insurance and investment management company

Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.

<span class="mw-page-title-main">The Travelers Companies</span> American insurance company

The Travelers Companies, Inc., commonly known as Travelers, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through independent agents. Travelers is incorporated in Minnesota, with headquarters in New York City, and its largest office in Hartford, Connecticut. It has been a component of the Dow Jones Industrial Average since June 8, 2009.

<span class="mw-page-title-main">Cincinnati Financial</span> American insurance company

Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S.

<span class="mw-page-title-main">Ameriprise Financial</span> Financial services company

Ameriprise Financial, Inc. is a diversified financial services company and bank holding company incorporated in Delaware and headquartered in Minneapolis, Minnesota. It provides financial planning products and services, including wealth management, asset management, insurance, annuities, and estate planning.

<span class="mw-page-title-main">Fireman's Fund Insurance Company</span> Defunct insurance company based in Novato, California, United States

Fireman's Fund Insurance Company was an insurance company based in Petaluma, California which provided personal, commercial property, and casualty insurance products in the United States. The company was a principal U.S. subsidiary of Allianz, a global financial services company.

Great-West Lifeco Inc. is a Canadian insurance-centered financial holding company that operates in North America, Europe and Asia through five wholly owned, regionally focused subsidiaries. Many of the companies it has indirect control over are part of its largest subsidiary, The Canada Life Assurance Company; the others are managed by Great-West Lifeco U.S. LLC, a U.S. based subsidiary. Great-West Lifeco is indirectly controlled by Montreal billionaire Paul Desmarais Jr. through his stake in the Power Corporation of Canada, which owns 72% of Great-West Lifeco. The hyphen in the company's name was originally a typesetter's error.

<span class="mw-page-title-main">RiverSource</span> U.S.-based investment management and life insurance firm

RiverSource is a U.S.-based investment management and life insurance firm which is a subsidiary of Ameriprise Financial, Inc. RiverSource is made up of RiverSource Investments, RiverSource Annuities, and RiverSource Insurance. The firm is based in Minneapolis, Minnesota.

<span class="mw-page-title-main">The Hartford</span> US-based insurance and investment company

The Hartford Financial Services Group, Inc., usually known as The Hartford, is a United States-based investment and insurance company. The Hartford is a Fortune 500 company headquartered in its namesake city of Hartford, Connecticut. It was ranked 160th in Fortune 500 in the year of 2020. The company's earnings are divided between property-and-casualty operations, group benefits and mutual funds.

<span class="mw-page-title-main">American National Insurance Company</span> U.S. financial service company

American National Insurance Company (ANICO) is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states and Puerto Rico.

<span class="mw-page-title-main">Lori Swanson</span> American politician

Lori Swanson is an American lawyer and politician who served as the attorney general of Minnesota from 2007 to 2019. She was the first female attorney general elected in Minnesota. In 2018, she ran for Governor of Minnesota with running mate U.S. Representative Rick Nolan finishing in third place in the Democratic-Farmer-Labor primary.

Country Financial is a group of US insurance and financial services companies with customers in 19 states. The group of companies offers a range of insurance and financial products and services, including auto, home, life, farm, commercial insurance, retirement planning, investment management and trust services.

Robert W. MacDonald is an American insurance entrepreneur, business consultant, blogger, and author of business books.

<span class="mw-page-title-main">Allianz</span> German multinational financial services company

Allianz is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management.

<span class="mw-page-title-main">Holdings of American International Group</span> Subsidiaries of the American International Group

The Holdings of American International Group include the operating entities and subsidiaries of insurance conglomerate American International Group (AIG) that operates in over 130 countries. The company's business consists of four core areas: General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management.

<span class="mw-page-title-main">F&G</span> American insurance company

F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.

American Modern Insurance Group, Inc., operating under the American Modern® insurance brand, is the holding company for a number of subsidiary property and casualty insurance companies that provide specialty products for owners of a variety of specialty dwellings such as seasonal homes and mobile homes, and collectable or recreational vehicles such as watercraft, snowmobiles and motorcycles. They also provide pet insurance. Among its companies is American Family Home Insurance Company, but it is not affiliated with the mutual insurance company American Family Insurance.

Howell Pomeroy Skoglund was an American businessman who was the president of the North American Life and Casualty Company and a founding owner of the Minnesota Vikings of the National Football League.

References

  1. "Business Week Company Profile". Archived from the original on January 6, 2009.
  2. "Fortune Global 500 List - 2009". CNN.
  3. Annual Report of the Insurance Commissioner of the State of Minnesota, Volume 35, Issue 2, 1906
  4. 1 2 "Getting to know Allianz: It has a long Twin Cities history". Star Tribune. Retrieved 2019-10-28.
  5. Seebacher, Uwe G. (2003-07-07). Template-driven Consulting: How to Slash More Than Half of Your Consulting Costs. Springer Science & Business Media. ISBN   9783540401285.
  6. "Long Term Care Insurance Planners" (PDF). Archived from the original (PDF) on 2012-03-01.
  7. "Star Tribune Tope Workplaces 2010". Archived from the original on 2011-05-11.
  8. "Minneapolis/St. Paul Business Journal 2010 Best Places to Work". July 16, 2010.
  9. "MNUFC & Allianz Field".
  10. "SIMON Introduces Allianz Life as Newest Carrier to Join InsurTech Platform's Marketplace". businesswire. 8 July 2020. Archived from the original on 2020-07-14. Retrieved 14 July 2020.