Allianz Life is fully owned by Allianz SE, the large German insurance and financial services group headquartered in Munich, and it operates as Allianz SE wholly owned American subsidiary rather than as its own publicly traded company.
Allianz Life sells fixed index annuities, variable annuities and life insurance policies across the United States, tracing its own roots back to 1896 when it was founded in Minnesota as North American Life and Casualty.
Allianz began acquiring a controlling stake in the Minnesota insurer in 1979 and eventually took it fully private under the Allianz name, and today parent company Allianz SE reported a record group operating profit of about seventeen point four billion euros for full year 2025.
So if Allianz Life has no shares of its own, who actually controls it, and can everyday investors buy stock in the company behind it?
This article looks at Allianz Life ownership and parent company structure, its public or private status, its CEO and founding history, its acquisition timeline, its retirement and annuity products, and whether it is a good company to work with.
So let us get started.
Table of Contents
Company Overview
| Company | Allianz Life Insurance Company of North America |
| Founded | 1896, as North American Life and Casualty |
| Parent Company | Allianz SE |
| CEO | Jasmine Jirele |
| Headquarters | Golden Valley, Minnesota |
| Ownership | Wholly owned subsidiary, not separately publicly traded |
What Allianz Life Does
Allianz Life sells fixed index annuities, variable annuities and life insurance policies to individuals across the United States, often through independent financial professionals.
Its annuity products are commonly used as a retirement income tool, offering guaranteed payout options that supplement Social Security, pensions and 401k or IRA savings.
The company does not operate as a traditional bank or brokerage. Instead, it focuses on insurance based products designed around long term retirement income and legacy planning.
Ownership and Parent Company
Allianz Life is a wholly owned subsidiary of Allianz SE, one of the largest insurance and asset management groups in the world.
Allianz SE is a publicly traded German company listed on the Frankfurt Stock Exchange under the ticker ALV, and it is the ultimate parent behind Allianz Life operations in North America.
Because Allianz Life is not separately listed on any stock exchange, everyday investors cannot buy shares of Allianz Life directly. Ownership runs entirely through the parent company, Allianz SE.
Publicly traded parent company, Munich, Germany
Wholly owned United States subsidiary
Public or Private, and Who the Real Shareholders Are
Allianz Life itself is private in the sense that it has no public shares of its own. The public company in this structure is its parent, Allianz SE.
Allianz SE shares are widely held by large institutional investors, including global index and asset managers, with no single family or individual holding a controlling stake today.
This structure is common in insurance groups: a large publicly traded parent owns country specific insurance subsidiaries that are not separately traded.
CEO and Founder
Jasmine Jirele has served as president and CEO of Allianz Life since March 2021, leading the company operations across the United States.
Allianz Life traces its roots to 1896, when it was established in Minnesota as North American Life and Casualty, long before Allianz SE acquired it decades later.
Allianz SE itself was founded in Berlin in 1890 by Carl Thieme, and it grew over the next century into one of the largest insurance companies in the world.
Ownership and Acquisition History
Allianz gradually built its ownership position in the Minnesota company beginning in the late 1970s, later taking it fully private under the Allianz name and rebranding it as Allianz Life.
Since then, Allianz Life has operated as one of several country and regional subsidiaries under the global Allianz SE umbrella, alongside sister companies in property and casualty insurance and asset management.
For a look at another large insurer with a very different, mutual style ownership structure, see our guide on who owns USAA.
Financials: Revenue and Assets
Allianz SE reported a record group operating profit of approximately 17.4 billion euros for full year 2025, according to its own fourth quarter earnings release.
Allianz Life does not typically publish standalone United States specific revenue figures the way its German parent does, since its results are consolidated into the broader Allianz SE group accounts.
These figures describe the overall Allianz SE parent group, not client premiums or policyholder account values held specifically inside Allianz Life annuity contracts.
Retirement and Investment Services
Allianz Life main retirement focused products are fixed index annuities and variable annuities, which offer tax deferred growth and optional guaranteed lifetime income riders.
The company also sells traditional and universal life insurance policies, which some clients use alongside retirement accounts for estate and legacy planning purposes.
Allianz Life products are typically purchased through independent insurance agents or financial professionals rather than opened directly online like a bank or brokerage account.
Annuity contracts can be complex, with fees, surrender periods and rider costs that vary by product, so anyone considering one should review the contract carefully with a licensed financial professional before buying.
For a comparison with a large life insurer offering similar retirement income products, see our guide on who owns Lincoln Financial Group.
Customer Service and Contact Information
Allianz Life maintains an official customer service and contact page on its corporate website, where policyholders can find current phone numbers and support options by product type.
Because contact numbers can change and vary by product line, existing policyholders should use the number listed on their policy documents or the official Allianz Life website rather than a third party listing.
Headquarters
Allianz Life is headquartered in Golden Valley, Minnesota, a suburb of Minneapolis, where it has maintained a major corporate presence for decades.
Its parent company, Allianz SE, is headquartered in Munich, Germany, and operates insurance and asset management businesses in dozens of countries worldwide.
Is Allianz Life Worth It
- Backed by Allianz SE, a large, financially strong global parent company
- Wide range of annuity and life insurance products for retirement income
- Long operating history dating back to 1896
- Rated Poor on Trustpilot customer reviews as of recent checks
- Annuity products carry complex fees and surrender charges
- Products are sold through agents rather than direct online purchase
According to Trustpilot, Allianz Life carries a Poor rating from customer reviewers, a pattern common among annuity providers where customers often post reviews only after a negative claims or service experience.
Allianz Life also maintains a profile with the Better Business Bureau in Minnesota, which prospective buyers can review alongside independent ratings agency scores before purchasing a policy.
Overall financial strength ratings for Allianz Life tend to be higher than its customer review scores, reflecting the backing of a large, well capitalized parent company even where service reviews are mixed.
Frequently Asked Questions About Allianz Life
Who owns Allianz Life
Allianz Life is a wholly owned subsidiary of Allianz SE, the large German insurance and financial services group based in Munich.
Is Allianz Life the same company as Allianz SE
No. Allianz Life is the North American insurance subsidiary, while Allianz SE is the publicly traded German parent company that owns it.
Is Allianz Life a good annuity company
Allianz Life is backed by a large, financially strong parent company, though customer review sites such as Trustpilot show a Poor rating, so buyers should research specific products carefully.
Where is Allianz Life headquartered
Allianz Life is headquartered in Golden Valley, Minnesota, near Minneapolis.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.