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Patrick L. Nelson Named Chief Suitability Officer of Allianz Life Insurance Company of North America

New CSO responsible for leading the company's consumer safeguarding and

suitability best practices

MINNEAPOLIS, Oct. 4 /PRNewswire/ -- Allianz Life Insurance Company of North America (Allianz Life) today announced Patrick L. Nelson will join the company as Chief Suitability Officer (CSO), responsible for leading the company's consumer safeguarding and suitability best practices. Nelson joins Allianz Life from the Minnesota Department of Commerce where he was Deputy Commissioner, and will officially assume his new role with Allianz Life on Oct. 8, 2007.

"The appointment of Patrick Nelson as our CSO underlines our commitment to meeting and exceeding the expectations of our customers," said Gary C. Bhojwani, President and CEO of Allianz Life. "Patrick has a unique blend of regulatory, compliance, and commercial experience encompassing both the insurance and securities industries. We're extremely pleased to have him join our team."

Earlier this year, Allianz Life announced customer focus enhancements that detailed key commitments to current and prospective policyholders, including the addition of a CSO and a set of "customer focus values." The four values, based on longstanding Allianz Life principles, include leadership, integrity, clarity and transparency.

About Allianz Life Insurance Company of North America

Founded in 1896 and based in Minneapolis, Allianz Life provides fixed and variable annuities, life insurance policies, and long term care insurance products in the United States. Known for innovation, performance, and customer service, the company has become a leader in the North American life insurance industry. Allianz products are offered through a nationwide network of independent financial professionals. The company is part of Allianz SE, a global financial services group that is the 16th largest corporation in the world based on revenue (Fortune, August 2006). Allianz SE employs over 177,000 people worldwide.

SOURCE Allianz Life Insurance Company of North America
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