Allianz first established its presence in the Americas in 1974 when an office was opened in Brazil. In 1976 the company set up its property and casualty insurance business in the US. Today, Allianz is active in North and South America, with companies based in the US, Canada, Mexico, Argentina, Brazil, Columbia and Venezuela. Allianz companies in the US are renowned and are among the top players in asset management. PIMCO is one of the world's leading fixed income management companies; Nicholas-Applegate is a leader in the world of asset management in the fields of institutional, managed accounts and sub-advisory markets; whilst Oppenheimer Capital is at the forefront of value-style equity management. Allianz Life is the second largest provider of fixed annuities in the US, while Fireman's Fund provides a wide range of insurance products, and Allianz Global Corporate & Specialties specializes in business with large corporate companies.