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New Allianz Life Boss Won't Tinker with Controversial Distribution Model (InvestmentNews)

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Walter White, Allianz Life’s new CEO, is sticking with the insurer’s controversial indexed-annuity distribution model, dashing the hopes of some independent agents. Allianz Preferred was launched in July, as a program that rewards top-selling field marketing organizations with access to exclusive products and better support, provided they submit to greater oversight by Allianz. Marketing organizations and agents that have been shut out of the Preferred program claim that the arrangement gives the insurer too much control over indie agents. As of yet, it’s not clear how the program is faring with agents who do qualify to sell the exclusive product, including Allianz 360, an indexed annuity.