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Allianz Life Promotes Renee West to Senior Vice President of Actuarial

  Allianz Life Promotes Renee West to Senior Vice President of Actuarial

Recognition reflects innovative, industry-leading product development efforts

Business Wire

MINNEAPOLIS -- February 21, 2014

Allianz Life Insurance Company of North America (Allianz Life) promoted Renee
West to senior vice president of the Actuarial division. West is responsible
for building competitive new products while ensuring the company’s
profitability targets are met and risks are understood. Her promotion reflects
the significant results she has brought to Allianz Life. West pioneered the
company’s use of dynamic hedging, leading to the creation of the Allianz Life
internal hedging platform. She also led the development of the company’s most
successful fixed index annuity, which was also an industry-leader for nearly
10 years.

“This is a well-deserved promotion for Renee, as she brings considerable
strength and passion to her work,” said Chief Actuary Neil McKay. “Her
visionary leadership inspires a talented team of actuaries who support
numerous key projects. She has been instrumental in setting the direction of
the company’s product development efforts and creating cutting-edge products.
Her creativity spans across all our company’s product lines, from three
different types of annuities to life insurance. Many of the product features
we are known for and that are in high demand from customers today, like
innovative crediting methods and indices, are a result of her work.”

The Dynamic Hedging Platform

West brought together a team of talented traders, quantitative analysts and
actuaries and together they built the company’s first dynamic hedging platform
in 2006. Today, Allianz Life is the only fixed index annuity carrier that uses
in-house dynamic hedging, which eliminates the expensive costs associated with
purchasing derivatives and options from a bank. Dynamic hedging also allows
Allianz Life to more closely align its specific liabilities, which helps the
company be more consistent in the features it offers its policyholders and
more options when developing new products.

West’s Actuarial Career

West began her 31-year actuarial career with Allianz Life as a senior
actuarial assistant in 1983. In 1986, she joined Fortis Financial Group and
spent more than 12 years rising through its product development ranks. West
also spent more than a year at Ameriprise Financial before returning to
Allianz Life in 2000 as vice president of product development.

West has a Bachelor of Science degree in Statistics from the University of the
Philippines – Quezon City and a Master of Actuarial Science from the
University of Wisconsin – Madison. She’s a Fellow of the Society of Actuaries
and Member of the American Academy of Actuaries.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best
Companies to Work For in 2014, has been keeping its promises since 1896.
Today, it carries on that tradition, helping Americans achieve their
retirement income and protection goals with a variety of annuities and life
insurance products. As a leading provider of fixed index annuities, Allianz
Life is part of Allianz SE, a global leader in the financial services industry
with 142,000 employees worldwide. More than 78 million private and corporate
customers rely on Allianz knowledge, global reach, and capital strength to
help them make the most of financial opportunities.

Contact:

Allianz Life Insurance Company of North America
Sara Thurin Rollin, 763-765-6703
sarathurin.rollin@allianzlife.com
 
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