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Allianz Life Acquires Administration Firm

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NU Online News Service, June 18, 2003, 4:33 p.m. EDT – Allianz Life Insurance Company of North America, Minneapolis, has acquired Delaware Valley Financial Services Inc., Berwyn, Pa., a firm that administers variable insurance products and variable annuities.

Delaware Valley was founded in 1978 and now employs about 300 people. It has been administering Allianz Life’s variable products since 1988.

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Allianz Life is a unit of Allianz A.G., Munich.