Former President and CEO, Allianz Life Insurance Company of North America
Walter White currently serves as a senior adviser at Allianz Life Insurance Company of North America (Allianz Life), and was formerly president and CEO. Prior to assuming his position as CEO in 2012, White served as chief administrative officer, leading Operations, IT, Compliance, Suitability, and the Central Project Office.
Before joining Allianz Life in 2009, White was president of Woodbury Financial Services, a securities broker/dealer, and led the formation of the company after Hartford Life purchased Fortis Financial Group in 2001. At Fortis, White held senior management positions in marketing and operations. Prior to joining Fortis, White was president of MONY Brokerage, the MONY Group’s life insurance brokerage subsidiary.
White earned his BA in history from Yale University, and an MBA from The Wharton School at the University of Pennsylvania. He holds the Chartered Life Underwriter (CLU®) and Retirement Income Certified Professional (RICP®) designations. He is a director and member of the Executive Committee of Senior Community Services, a director and member of the Audit Committee of the YMCA of the North, and a member of the Foundation Board of Children’s Minnesota.
Why We Chose Him:
Allianz Life Insurance Company of North America promotes itself to customers as providing peace of mind through the financial security of annuities and life insurance products. But what recommended the company to us for this Social Capital section is its commitment to providing peace of mind to its employees in their family life – and extending that from the individual employee to the employee’s family. Part of respecting their families is helping employees with their worries and concerns for their families, and Allianz Life bends over backward to make that happen.
One way is through the Employee Critical Need Fund, which provides monetary support in crisis. The company offers 20 days of paid leave and matches employee contributions 1 to 1. “I have two elderly parents ages 92 and 88,” one worker told a reporter about the program. “When both of them developed significant health issues and my dad went on hospice for brain cancer, I needed to be there for them. And Allianz Life was there for me.”
The company also offers a free service to address future financial planning for special-needs kids. And last year, with mental health distress at unprecedented levels tied in large part to financial worries, Allianz Life introduced a new financial benefit program for its employees. In an effort to help its employees save for their own retirement, Allianz Life began offering a new benefit that will help employees with personal student loan debt save for retirement through the company 401(k) program.
This new program, which launched July 1, will assist employees whose student loan payments may limit them from contributing enough to the company 401(k) program in order to earn the full 7.5% company contribution. To help ensure employees don’t miss out on the available company contribution because of student loan burden, the company will assess an employee’s personal student loan payments and determine how much the company will contribute to their 401(k) account, up to the full contribution of 7.5% of eligible pay.
“As a company, we are committed to helping people secure their future and plan for retirement, and that should start with our own employees,” says Jenny Guldseth, Allianz Life chief human resources officer. “We know that student loan debt is a significant issue, one that often delays saving for retirement. Being able to address this matter head-on as a part of our overall benefits package is important to us and our employees.”
Other Allianz Life benefits available to employees include medical coverage, the unique True Balance health and wellness program, career and professional development, and a range of onsite amenities that include a fitness center, child development center, two cafeterias, dry cleaning. and shipping and postal services.
Although the company’s top leadership undergoes the periodic changes that may be expected in large organizations, the CEO always brings a clear understanding of Allianz Life’s corporate culture. Current president and CEO Walter White served as Allianz Life’s chief administrative officer, leading Operations, IT, Compliance, Suitability and the Central Project Office before assuming his position as CEO. And Jasmine Jirele, who will take the helm upon White’s retirement the end of this year, has served as Allianz Life’s chief growth officer since 2018, where she is responsible for defining the company’s growth strategy, including its expansion into new markets, and leading product innovation, marketing, communications, Allianz Ventures and enterprise agile.
Earlier this year, Allianz Life was recognized as one of the 2021 World’s Most Ethical Companies by Ethisphere. The World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. This year, the question set expanded to gauge how companies are adapting and responding to the global health pandemic, as well as inclusion and social justice practices.
“Our values-based culture empowers employees to do the right thing to support our customers, our business partners, and our community,” says Allianz Life CEO Walter White. “Our focus is helping our customers secure their future, and this recognition is validation of our strong ethical foundation that enables us to fulfill this mission.”
Tenure at Current Position
|Yale University,Bachelor of Arts in history; The Wharton School at the University of Pennsylvania, MBA|