Allianz Life Reports Solid 2018 Financial Results

Life Insurance Sales Reach Record Highs Despite Overall Impact of
Market Volatility

MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz
Life
®) today announced its 2018 financial results, with
assets under management rising to $138 billion and total premium
reaching $12.7 billion, 16 percent higher than 2017. Allianz Life’s
operating profit topped $1 billion for the third year in a row, reaching
slightly more than $1 billion. However, given volatile market conditions
in 2018, this was a slight drop following a record $1.18 billion in
2017, but was still in line with expectations. In 2018, the company paid
$2.8 billion in benefits to its policyholders and contract holders via
life insurance and annuity payments, up 7 percent from 2017.

Life insurance premium hit a record high in 2018, rising 7 percent to
$101 million. Fixed index annuity (FIA) sales continued to experience
strong growth, reaching $9.2 billion, a 23 percent increase over the
previous year. Allianz Life continues to be a top seller of FIAs in the
United States. Index variable annuities (IVA) premium declined slightly
from 2017 but came in strong at $2.11 billion.

“Despite volatile market conditions, we produced very solid overall
results in 2018,” said Bill Gaumond, chief financial officer, Allianz
Life. “We saw very strong sales, with life insurance reaching an
all-time high. Meanwhile, the strong FIA sales number indicates growing
consumer demand for retirement income products that provide protection
while still offering upside potential. We remain optimistic that this
trend will continue well into the future as more Americans enter
retirement and seek solutions that provide an income they cannot
outlive.”

Allianz Life continued to play a significant role in the success of its
parent company, Allianz SE, in 2018. More than 7 percent of Allianz SE
global operating profit in 2018 was generated by Allianz Life (and more
than 20 percent of Allianz SE global operating profit in the life/health
sector).

Ongoing Ratings Strength

Allianz Life retained all of its ratings in 2018. Current ratings
include:

  • Standard & Poor’s: AA (Very Strong), the third highest of
    21 possible ratings.
  • Moody’s Investors Service: A1, the fifth highest of 21 possible
    ratings.
  • A.M. Best: A+ (Superior), the second highest of 16 possible
    ratings.

Allianz Life in the Community

Allianz Life increased its level of commitment to the Twin Cities
community in 2018, with its charitable giving programs providing more
than $2 million to Minnesota nonprofits. Allianz Life employees also
volunteered 13,000 hours to local nonprofits in 2018. In the year ahead,
Allianz Field, the eighth stadium to hold the Allianz name worldwide,
will open in the Midway area of St. Paul. The first Minnesota United
game is scheduled for April 13.

Workplace Awards

Allianz Life received several accolades in the past year, including
recently being named to the prestigious Fortune magazine’s
“100 Best Places to Work For” list for the eight consecutive year. Other
honors throughout the year include the following:

  • Named a top workplace by the Star Tribune (Minneapolis) for the
    ninth consecutive year.
  • Ranked as one of Working Mother magazine’s 100 Best Companies
    for the fifth consecutive year.
  • Ranked in Training magazine’s Training Top 125 for the sixth
    year in a row.

About Allianz Life Insurance Company of North America

Allianz
Life Insurance Company of North America
, one of the FORTUNE 100 Best
Companies to Work For® in 2019, has been keeping its promises since 1896
by helping Americans achieve their retirement income and protection
goals with a variety of annuity and life insurance products. In 2018,
Allianz Life provided $2.8 billion in benefit payments that helped
policyholders’ achieve their financial goals. As a leading provider of
fixed index annuities, Allianz Life is part of Allianz SE, a global
leader in the financial services industry with over 142,000 employees in
more than 80 countries. Allianz Life is a proud sponsor of Allianz Field
in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

Contacts

Brett J. Weinberg
(763) 765-7160
[email protected]
Twitter:
@AllianzLife

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