Allianz Life Advances Youth Financial Literacy
May 28, 2014- MINNEAPOLIS–(BUSINESS WIRE)–Employees from Allianz Life Insurance Company of North America (Allianz Life®) coached the top three student teams in a recent session of The Stock Market Game™ led by Twin Cities financial literacy non-profit BestPrep. The Allianz Life-sponsored teams performed well in every age division. More than 1,000 elementary, middle and high school students from the Twin Cities participated in the virtual game aimed at educating students on investing and the stock market while teaching about the economy first hand.
“Allianz Life supports the programs that BestPrep provides because they make a difference in students’ lives. Our employees enjoy working with young people to give them the best chance at a successful financial future.”
Building financial literacy
“Investing isn’t a topic commonly discussed among students, but they will be more successful if they build financial knowledge early in life,” said Allianz Life President and Chief Executive Officer, Walter White. “Allianz Life supports the programs that BestPrep provides because they make a difference in students’ lives. Our employees enjoy working with young people to give them the best chance at a successful financial future.”
In 2014, there were 338 student teams from 20 Twin Cities-based schools participating in The Allianz Life Challenge edition of The Stock Market Game™, which ran from January to May 2014. In this game, each team was given a virtual $100,000 budget to invest. Students competed against other teams from across Minnesota at the same grade level.
Top performing teams were: Bryn Mawr Elementary, $106,247.14 – Elementary Division; Osseo Junior High, $101,733.55 – Junior High/Middle School Division; and Stillwater Area High School, $115,674.60- High School Division.
Profits Grew With Allianz Life Coaches
Unique to Allianz Life is the partnership in the classroom with employees serving as coaches and advisors. 30 classes were assigned one Allianz Life volunteer who coached students in grades 4-12 helping them invest “money” in stocks and mutual funds. With the help and advice of employee volunteers, the top Allianz Life-coached teams made an average profit of more than $6,000.
The top three elementary school teams had students from the Bryn Mawr Elementary School in Minneapolis, Oxbow Creek Elementary School in Champlin, Minn. and Bel Air Elementary School in New Brighton, Minn. The top three middle school teams had students from Osseo Junior High in Osseo, Minn. and Pioneer Ridge Middle School in Chaska, Minn. The top three high school teams had students from Stillwater Area High School in Stillwater, Minn. and Big Lake High School in Big Lake, Minn.
Best Prep is one of Allianz Life’s community partners because of its focus on promoting financial literacy. The company has a long-term commitment of funding and volunteerism with Best Prep.
“Allianz Life’s commitment to improving the financial literacy of Minnesota’s students has been extraordinary and unwavering,” said Bob Kaitz, president and CEO of BestPrep. “Each year hundreds of Allianz Life volunteers work with BestPrep students to place them on the road to success. Their commitment has been an inspiration to the Twin Cities business and education communities.”
Brooklyn Park-based nonprofit BestPrep is a statewide organization whose mission is to best prepare Minnesota students with business, career and financial literacy skills through experiences that inspire success in work and life. BestPrep has served more than 1.3 million students and teachers since its founding in 1976.
For more information about Allianz Life’s community giving programs, visit Allianz Life Community Outreach.
About Allianz Life
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2014, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 147,000 employees worldwide. More than 83 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
BestPrep prepares Minnesota students with business, career and financial literacy skills. BestPrep’s programs engage 4-12 grade students and their educators in active learning, while connecting them to the world outside the classroom. With the help of more than 4,000 professional volunteers each year, BestPrep bridges classroom curriculum and the business community, enriching the teaching and learning experience for Minnesota students and educators. The Stock Market Game™ allows students to use an experiential tool that increases their financial literacy and emphasizes the importance of investing.