A golf event sponsored by a large insurer will be heading to the Sunshine State.

The Allianz Championship, a tournament that is part of the Champions Tour, will take place on the Old Course at Broken Sound Club in Boca Raton, Fla., according to the Champions Tour, Ponte Vedra Beach, Fla.

The tournament, which is part of what used to be known as the Senior PGA Tour, has been using golf courses in the Des Moines, Iowa, area for the past 6 years.

Allianz Life Insurance Company of North America, will be helping to supply a $1.6 million purse in 2007. The purchase will increase in $50,000 increments each year.

The Golf Channel will televise all three tournaments, according to the Champions Tour.