Allianz Life Supports Youth Financial Literacy with The Stock Market Game

Employees educate students on investing and the stock market

Minneapolis, MN  (Profitable.com)  Employees from Allianz Life Insurance Company of North America (Allianz Life) coached the top three student teams in the 2013 edition 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.

“It is essential for young people to learn how to make educated financial decisions early in their lives,” said Brian Peterson, senior vice president Allianz Distribution Group. “Allianz Life is proud to support financial literacy through BestPrep and we want to help enable students to achieve their future financial goals. Understanding the risk-reward nature of the stock market also puts them light years ahead of their peers.”

In 2013, there were 309 student teams from 30 Twin Cities classrooms participating in The Allianz Challenge edition of The Stock Market Game and each was given a virtual $100,000 budget to invest. All 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 volunteers, the top Allianz Life coached teams made an average profit of more than $24,000. The top three elementary school teams had students from the Sheridan Arts Magnet School in Minneapolis and Bel Air Elementary School in New Brighton. The top three middle school teams had students from South View Middle School in Edina and Community of Peace Academy in St. Paul. The top three high school teams had students from Stillwater Area High School in Stillwater.

Best Prep is one of Allianz Life’s strategic community partners because of its focus on promoting financial literacy. The company has a long-term commitment of funding and volunteerism with Best Prep.

“Our partnership with Allianz Life has been a game changer. Because of their volunteers, thousands of students are now capable of making sound money management decisions,” said Bob Kaitz, president and CEO for BestPrep. “The results have been so impacting, other companies are following their lead and financial education is becoming a priority for our schools.”

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 1.3 million students and teachers since its founding in 1976.

About Allianz Life

Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2012, 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 142,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.

About BestPrep

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.