Allianz Life Insurance Company of North America (Allianz), today announced the launch of the Allianz Pro V1 AnnuitySM, a fixed index annuity that provides protection, guarantees, and – a first for Allianz Life fixed annuities — a bond index allocation strategy with the power of annual reset.

“Consumers continue to tell us that they want more guarantees for their retirement savings as protection against the possibility of market volatility, but also quicker access to their money,” said Eric J. Thomes, senior vice president of Sales for Allianz Life. “Allianz Pro V1 protects contract owners’ principal and credited interest, while providing access to the annuity’s full accumulation value after five contract years.”

Some of the features offered by Allianz Pro V1, now for sale in 35 states, include:

The opportunity to earn interest by allocating to the Barclays Capital U.S. Aggregate Bond Index or a fixed interest allocation.

Access to full accumulation value after just five years, or let the contract continue to accumulate.

The simplicity of annual point-to-point crediting with a spread.

The ability to take up to 10 percent of the premium in free withdrawals each year, starting immediately and the option to begin an annuity income stream after just one contract year.

Annuities are designed to meet long-term needs for retirement income. For more information about Allianz and Pro V1 visit: www.allianzlife.com.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America. Distributions are subject to ordinary income tax and, if taken prior to age 59 ½, a 10% federal tax penalty. Allianz Pro V1 Annuity is contract C53520.

About Allianz Life Founded in 1896, Allianz Life provides an array of annuities and life insurance products in the U.S. through a nationwide network of independent distribution. The company is part of Allianz SE, a global financial services organization that is the 20th largest company in the world based on revenues (Fortune Global 500, August 2009), employing nearly 155,000 people worldwide.

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