Gary Bhojwani, CEO of Allianz life
Allianz Life growth reported Friday in several metrics in the first half of 2011, would be operating profits to below.
Golden Valley-based Allianz life insurance company of North America reported that 14 percent booked premium rose to $5.6 billion in the first half over the same period last year. Fixed index annuity premium increased by 8 percent to $3.3 billion, and increased 1.9 billion the variable annuity sales by 27 percent to USD.
Operating profit 9 percent below the 2010 half-year profit, which said the company rose $ 315 million for the first half of the year was of the portfolio.
Total assets were compared to 5 percent to $92 billion at the end of 2010. The company credited, that growth to increase customer balances and income gains.
"We maintain our strong annuity market share and increase your sales by strengthening the links with the distribution" Alliance said life President and CEO Gary Bhojwani. "During the quarter, we also added new focus of our life insurance business and see considerable interest in our new fixed index-universal-life product, Allianz Life Pro + SM, which started in May."
Alliance life is part of Allianz SE. Allianz SE latest from the business magazines of fireman's Fund Gets a further CEOWall Street Journal: Bank of America mortgage share buy-back TalksBofA talking about mortgages buybacks consequences this company, the 20 largest companies in the world on Fortune Global 500.
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