Allianz Life Insurance coverage Firm of North America (Allianz Life®) as we speak introduced its 2018 monetary outcomes, with property below administration rising to $138 billion and complete premium reaching $12.7 billion, 16 % greater than 2017.
Allianz Life’s working revenue topped $1 billion for the third yr in a row, reaching barely greater than $1 billion. Nevertheless, given unstable market circumstances in 2018, this was a slight drop following a file $1.18 billion in 2017, however was nonetheless in keeping with expectations. In 2018, the corporate paid $2.eight billion in advantages to its policyholders and contract holders by way of life insurance coverage and annuity funds, up 7 % from 2017.
Life insurance coverage premium hit a file excessive in 2018, rising 7 % to $101 million. Fastened index annuity (FIA) gross sales continued to expertise robust development, reaching $9.2 billion, a 23 % improve over the earlier yr. Allianz Life continues to be a prime vendor of FIAs in the USA. Index variable annuities (IVA) premium declined barely from 2017 however got here in robust at $2.11 billion.
“Regardless of unstable market circumstances, we produced very strong general leads to 2018,” stated Invoice Gaumond, chief monetary officer, Allianz Life. “We noticed very robust gross sales, with life insurance coverage reaching an all-time excessive. In the meantime, the robust FIA gross sales quantity signifies rising client demand for retirement earnings merchandise that present safety whereas nonetheless providing upside potential. We stay optimistic that this pattern will proceed effectively into the longer term as extra Individuals enter retirement and search options that present an earnings they can't outlive.”
Allianz Life continued to play a big function within the success of its guardian firm, Allianz SE, in 2018. Greater than 7 % of Allianz SE international working revenue in 2018 was generated by Allianz Life (and greater than 20 % of Allianz SE international working revenue within the life/well being sector).
Ongoing Rankings Power
Allianz Life retained all of its rankings in 2018. Present rankings embrace:
Normal & Poor’s: AA (Very Robust), the third highest of 21 potential rankings.
Moody’s Traders Service: A1, the fifth highest of 21 potential rankings.
A.M. Greatest: A+ (Superior), the second highest of 16 potential rankings.
Allianz Life within the Group
Allianz Life elevated its stage of dedication to the Twin Cities group in 2018, with its charitable giving applications offering greater than $2 million to Minnesota nonprofits. Allianz Life staff additionally volunteered 13,000 hours to native nonprofits in 2018. Within the yr forward, Allianz Subject, the eighth stadium to carry the Allianz identify worldwide, will open within the Halfway space of St. Paul. The primary Minnesota United recreation is scheduled for April 13.
Office Awards
Allianz Life acquired a number of accolades prior to now yr, together with lately being named to the distinguished Fortune journal’s “100 Greatest Locations to Work For” checklist for the eight consecutive yr. Different honors all year long embrace the next:
Named a prime office by the Star Tribune (Minneapolis) for the ninth consecutive yr.
Ranked as considered one of Working Mom journal’s 100 Greatest Corporations for the fifth consecutive yr.
Ranked in Coaching journal’s Coaching High 125 for the sixth yr in a row.
About Allianz Life Insurance coverage Firm of North America
Allianz Life Insurance coverage Firm of North America, one of many FORTUNE 100 Greatest Corporations to Work For® in 2019, has been conserving its guarantees since 1896 by serving to Individuals obtain their retirement earnings and safety objectives with quite a lot of annuity and life insurance coverage merchandise. In 2018, Allianz Life offered $2.eight billion in profit funds that helped policyholders’ obtain their monetary objectives. As a number one supplier of mounted index annuities, Allianz Life is a part of Allianz SE, a world chief within the monetary companies trade with over 142,000 staff in additional than 80 international locations. Allianz Life is a proud sponsor of Allianz Subject in St. Paul, Minnesota, dwelling of Main League Soccer’s Minnesota United.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20190215005308/en/
Brett J. Weinberg
(763) 765-7160
[email protected]
Twitter: @AllianzLife
Supply: Allianz Life Insurance coverage Firm of North America
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