Profit Flat, Premium Falls at Allianz Life
February 16, 2018 by Cyril Tuohy
Allianz Life Insurance Co. of North America, one of the biggest life and annuity sellers in the U.S., ended 2017 with an operating profit of $1.18 billion compared to $1.06 billion in 2016, the company reported Friday.
Total premium, hit hard by regulatory changes and low interest rates, fell 16 percent to $11 billion last year compared to 2016, the Minneapolis-based company said.
Sales of fixed indexed annuities (FIA) in 2017 fell 26 percent to $7.5 billion compared to 2016, Allianz Life said.
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