The listing Friday on the New York Stock Exchange of Allianz AG’s American depositary receipts brought the Munich insurance giant a step closer to its goal of acquiring enough U.S. financial services companies to become the world’s fifth-largest insurer.

Henning Schulte-Noelle, chairman of Allianz’s board of management, said his main strategy is to build up its U.S. life insurance business. Allianz reaped about $7.7 billion last year in life insurance premiums from its U.S. operations.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.