Allianz Life has a German name (pronounced "AH-lee-ahnz"), but it has deep roots in the Twin Cities.
The company dates back to the North American Life and Casualty Co., an insurance company founded in 1896 and based in Minneapolis. The company's longtime president, H.P. Skoglund, was one of the original owners of the Minnesota Vikings in 1960.
Allianz, a German financial conglomerate, acquired North American Life in 1979 and changed its name to Allianz Life Insurance Co. of North America in 1993. In 2001, Allianz Life moved its headquarters to Golden Valley, where it employs about 1,900 people.
Allianz Life, widely known for its sales of annuities, reported an operating profit of more than $1 billion last year. The subsidiary accounts for about 10 percent of its parent company's profit.
