News
Minnesota Life joins All Net to provide group insurance programs globally
Group life insurer partners with Allianz subsidiary in market expansion
St. Paul, Minn., September 17, 2001— Minnesota Life Insurance Company's Group division is expanding its distribution network through a partnership with All Net, the international employee benefit network of Allianz Group. Minnesota Life will provide group life and disability insurance programs to the United States employees of All Net's multinational clients.
"We are excited about the opportunities this partnership presents," said Jim Johnson, senior vice president of Minnesota Life's Group division. "Our domestic clients now have access to a worldwide benefits network and All Net's clients have access to a quality life insurance operation in the U.S."
Minnesota Life is a leading provider of group life insurance in the United States, offering a complete line of products, including basic and supplemental term, group universal and variable group universal life. Minnesota Life is the eighth largest group insurer in the United States in terms of life insurance in force.
"We are very pleased to welcome All Net, a group insurance provider of the high caliber of Minnesota Life," said Lance Henderson, All Net regional director – Americas. "Minnesota Life offers the U.S. subsidiaries of our multinational clients high-quality products and outstanding service."
Founded in 1880, Minnesota Life Insurance Company provides financial security for individuals and businesses in the form of insurance, pensions and investments. The Company is one of a select number of insurance groups in the United States carrying "very high" ratings including A++ from A.M. Best, AA+ from Standard & Poor's, Aa2 from Moody's Investors Service and AA+ from Fitch. With $260 billion of life insurance in force and $20 billion in assets under management, the Company serves over six million people through a combined work force of 4,400 people at its St. Paul headquarters and agencies and offices across the country.
All Net, the Global Employee Benefit Network of Allianz Group, is a cooperation of international and national insurance companies. With capabilities in nearly 70 countries it is one of the world's largest employee benefits networks. All Net promotes the employee benefit products of its members to multinational clients who have a specific need for worldwide coordination of their local benefit plans. It offers a comprehensive range of group contracts – life, pension, disability, accident and health insurance – with the objective of reducing costs and improving service for its international customers.
Founded in 1890, Germany-based Allianz is the world's second largest publicly held insurer. Its more than 120,000 employees serve 60 million clients in over 70 countries. Allianz has $620 billion of assets under management and carries some of the highest financial ratings in the industry, including AA+ from Standard and Poor's.
Contact:
Maggie Jensen
Media Relations Consultant
Minnesota Life Insurance Company
Phone: (651) 665-7558
Pager: (612) 650-0433
400 Robert Street North
St. Paul, MN 55101-2098
margaret.jensen@securian.com
