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Agreement reached with Allianz Life Insurance Company

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The Minnesota Department of Commerce announced a multi-state settlement agreement between Allianz Life Insurance Company of North America and 43 states.

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Iowa acted as the managing lead state in the agreement and was assisted by Minnesota, Missouri, and Florida. The agreement establishes corrective actions, a consumer complaint review and refund process, and a $10 million penalty to be distributed among the participating states.

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