MINNEAPOLIS--(BUSINESS WIRE)--Minneapolis-based Allianz Life Insurance Company of North America (Allianz Life®) today announced that the rating agency Standard & Poor’s (S&P) affirmed the company’s rating as AA (very strong) and maintained the company’s stable outlook. S&P’s AA rating is the third highest out of 21 possible ratings. S&P based its rating on Allianz Life’s operating results, market leadership in fixed index annuities and strong investment portfolio. Allianz Life has carried the AA rating for many years.
“We continue to leverage on our product innovation capabilities to offer our customers attractive retirement solutions. Disciplined pricing and a conservative investment philosophy remain foundational to maintain and further build our financial strength,” said Allianz Life Chief Financial Officer Giulio Terzariol. “We are positioned well to keep our promises to our customers now and in the future.”
Recent research suggests that many Americans are looking for retirement savings products similar to those offered by Allianz Life.
Americans surveyed by Allianz Life in late 2014 overwhelmingly said they preferred financial products with guarantees (78%) over products with higher growth potential but have the possibility of losing value (22%).* Many Allianz Life products feature protection from market loss, which was a common financial request for Americans despite the fact that the markets enjoyed a steady climb throughout much of 2014.
Allianz Life has maintained this S&P rating for several years. For example, the financial strength rating of Allianz Life did not change during the 2008-2009 financial crisis, a period during which many financial services companies received downgrades. The S& P rating of AA (very strong) was affirmed on Dec. 23, 2014.
The rating from S&P applies to Allianz Life and Allianz Life Insurance Company of New York (Allianz Life® of NY).
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2015, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 147,000 employees worldwide. More than 85 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
All guarantees are backed solely by the financial strength and claims-paying ability of the issuing company.
Allianz Life Insurance Company of North America offers insurance and annuities in all states except New York. In New York, products are issued by Allianz Life Insurance Company of New York, One Chase Manhattan Plaza, 38th Floor, New York, NY 10005-1423.
*The Allianz Life 2014 Market Perceptions Study was conducted by Ipsos via their online iSay/Ampario Panel from September 12-16, 2014 with 791 panel respondents ages 18-55+ who identified as NOT retired, and was commissioned by Allianz Life Insurance Company of North America.
