Products October 23, 2006

AIMS Brings Back Robert MacDonald for New Retirement Income Unit

October 23, 2006 (PLANSPONSOR.com) - Allianz of America has hired a consulting company run by the retired chairman and CEO of Allianz Life Insurance Company of North America to help build and lead a new firm focusing on the retirement income market.

Reported by

Fred Schneyer

A news release from Allianz Income Management Services, Inc. (AIMS) said that CTW Consulting owner Robert MacDonald would be the new firm’s chief executive officer and direct its initial operations and development. MacDonald was also founder and chief executive of LifeUSA.

MacDonald, 63, who retired from Allianz Life in 2002 to form his consulting firm, said in the news release that AIMS will develop and market both fixed and variable insurance products that provide an immediate lifetime income to those entering or near retirement.

Also, according to the announcement, AIMS will attempt be the first company in the insurance industry to operate virtually wireless and paperless. “The contacts and transactions of policyholders, field representatives and employees will be done electronically via the Web,” MacDonald said in the release.

AIMS is actively recruiting marketing organizations, independent insurance agents and financial planners to work with the company to offer its initial product. The announcement said that the two-month old AIMS will use the business model of LifeUSA, which provided for shared ownership between the company, its employees and field representatives.

Further information is at www.allianzincome.com .