Allianz Life Insurance Co. of North America plans to add bank distribution alliances and increase its multicultural marketing efforts next year, according to the company's new director of sales and distribution. Hayward Sawyer, who joined the company in June and was promoted to the twin posts in December, says Allianz Life is in the process of hiring a manager to expand its bank relationships in the next 12 months."We currently have a couple major relationships, but we want to work with major banks, including regional banks," he says.

Allianz Life already works with six banks but the Minneapolis unit of Munich-based Allianz AG wants to add four regional banks to the mix in 2005. "Bank distribution is an important part of the business plan, and we want to make sure we can provide the proper coverage to those banks," he says.

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