Allianz Life Creates Fund to Help Terrorist Disaster Victims.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Sept. 20, 2001 Allianz (pronounced all-ee-ahnz) Life Insurance Company of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. (Allianz Life) today announced that it has established a Disaster Relief Fund to help the victims of the terrorist attacks September 11 in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Washington, D.C. The Minneapolis-based company joined its parent company, Allianz AG of Munich, Germany, in efforts to aid victims of the tragedy. "Allianz Life recognizes its commitment to the community and the well-being of our country," said Bob MacDonald
Bob MacDonald , chief executive officer of Allianz Life. "By establishing this relief fund, we hope to offer even the smallest bit of relief and comfort to those afflicted af·flict tr.v. af·flict·ed, af·flict·ing, af·flicts To inflict grievous physical or mental suffering on. [Middle English afflighten, from afflight, by the attacks. We believe the need to help is part of our civic and corporate responsibility." The fund, initiated by the company's Employee Council, will consist of donations from Allianz Life employees, and will be matched dollar for dollar by the company. In addition, Allianz Life has agreed to seed the fund with $10,000. It is expected that the total sum will approach $200,000. All donations will be sent to the Red Cross Disaster Relief Fund. "Our employees have shown integrity and compassion by initiating this Disaster Relief Fund," MacDonald said. "They felt the need to show their support for Allianz AG colleagues in New York City and all those feeling the effects of this horrific event." Allianz AG had offices located in New York's World Trade Center. Almost 300 Allianz employees were in the World Trade Center or neighboring buildings at the time of the attack. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Allianz sources, all of the employees were safely evacuated. Allianz AG has made a corporate contribution of $1 million to aid the victims. In addition, its affiliate, Dresdner Bank, has made a separate contribution of 1 million euros ($950,000) for disaster assistance. About Allianz Life Insurance Company of North America Allianz Life Insurance Company of North America (Allianz Life) is a leading provider of fixed and variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. and life policies, group life and health, and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. products through independent distribution networks and financial institutions in the U.S. Allianz Life is also a major provider of life, annuity and health reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. services. Allianz Life is part of the Allianz Group, the second largest insurance group and the 25th largest corporation in the world, operating in more than 70 countries. Allianz Life headquarters are based in Minneapolis. |
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