Fireman's Fund Insurance Company President to Urge Congress to Provide Option to Antiquated Insurance Regulatory System; Joseph Beneducci Available to Comment on Proposed National Insurance Act.

Fireman's Fund Insurance Company:

WHO:      Joseph J. Beneducci, president and chief operating officer,
          Fireman's Fund Insurance Company, representing the American
          Insurance Association (AIA).

          Fireman's Fund Insurance Company is a premier property and
          casualty insurance company providing personal, commercial
          and specialty insurance products nationwide.  Fireman's Fund
          is a member of the Allianz Group (NYSE:AZ), one of the
          world's largest providers of property and casualty insurance
          and other financial services.

WHAT:     Beneducci will be testifying before the Senate Committee on
          Banking, Housing, and Urban Affairs on the benefits of the
          proposed National Insurance Act (S. 2509) to consumers, the
          insurance industry, and other businesses and corporations.

          Introduced by U.S. Senators John Sununu (R-NH) and Tim
          Johnson (D-SD), the National Insurance Act of 2006 would
          allow property/casualty and life insurers to choose federal
          rather than state charters. The "optional federal charter"
          structure mirrors the successful dual banking system and
          would provide a more uniform, efficient regulatory
          environment.

WHY:      Streamlining the regulatory system will allow for more
          healthy competition in the insurance industry, increased
          innovation and new products to be available to the consumer
          more quickly.

WHEN:     Tuesday, July 11th
          10 a.m.

WHERE:    538 Dirksen Senate Office Building
          Capitol Hill
          Washington, D.C.

CONTACTS: To arrange an interview with Beneducci before or after the
          hearing, please contact:

                --  Sabia Schwarzer, Allianz Corporate Communications,
                    [phone]
                --  Susan Murdy, Fireman's Fund Insurance Company,
                    [phone]