Jewish groups are outraged over the prospect of a new Giants and Jets stadium being named for German insurer Allianz because of its Nazi ties in World War II. The company insured the Auschwitz death camp and had a chief executive serving in Hitler's cabinet. The company is on the short list of those vying to slap their name on the Meadowlands stadium in New Jersey via a lucrative sponsorship deal. Allianz, which employs 11,000 people in the U.S. and sponsors golf and racing events, has acknowledged its unfortunate past and has awarded millions in restitution. "Our record of trying to redress the evils of the Third Reich have been significant over the years," Peter Lefkin, senior vice president at Allianz of America, told the Daily News. Rabbi Jay Rosenbaum, secretary general of the North American Board of Rabbis, agreed that although survivors' sensibilities are understandable, a naming deal is legit. "I have found Allianz to be receptive, to be sensitive and a friend of the Jewish people today," he said. "We need not live in the past."