Allianz Life expands contract with Barclays Plc.
Global Banking News-June 26, 2014--Allianz Life expands contract with Barclays Plc
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Global Banking News - 26 June 2014
Allianz Life (NYSE: AL) has announced that it has expanded its contract with Barclays Plc (LSE: BARC).
The two companies have signed an agreement that will allow the insurer to use Barclays-branded index that reflects the performance of an allocation strategy across stock and bond asset classes. The firm will be allowed to use the Barclays US Dynamic Balance Index until 2020.
The index will be offered on Allianz Life fixed index annuity (FIA) and fixed index universal life (FIUL) products.
Tom Burns, chief distribution officer with Allianz Life, said, 'inclusion of the US Dynamic Balance Index gives our products a powerful combination for consumers looking for protection with accumulation potential based on the performance of an external index. We believe the remarkable success of this index reflects Americans' appetite for growth potential with a level of protection against the effects of volatile markets like the 2008 recession.'
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