Allianz Global Investors Nominee Services Ltd., Grand Cayman 100.0 Allianz Global Investors Singapore Ltd., Singapore 100.0 Allianz Global Investors Solutions LLC, Dover, DE 100.0 Allianz Global Investors Taiwan Ltd., Taipei 100.0 Allianz Global Investors U.S. LLC, Dover, DE 100.0 Allianz Global Investors U.S. Holdings LLC, Dover, DE 100.0 Allianz Global Life Ltd., Dublin 100.0 Allianz Global Risks US Insurance Company Corp., Burbank, CA 100.0 Allianz Graduello, Paris 100.0 3 Allianz Grenelle SAS, Paris 100.0 Allianz Hayat ve Emeklilik A.S., Istanbul 89.0 Allianz Hellas Insurance Company S.A., Athens 100.0 Allianz Héxéo, Paris 99.4 3 Allianz Hold Co Real Estate S.à r.l., Luxembourg 100.0 Allianz Holding eins GmbH, Vienna 100.0 Allianz Holding France SAS, Paris 100.0 Allianz Holdings plc, Guildford 100.0 Allianz Hong Kong Dollar Income Fund, Luxembourg 100.0 3 Allianz Hospitalier Valeurs Durables, Paris 100.0 4 Allianz Hospitaliers Euro, Paris 100.0 4 Allianz Hospitaliers Monde, Paris 100.0 4 Allianz Hungária Biztosító Zrt., Budapest 100.0 Allianz IARD S.A., Paris 100.0 Allianz IARD Vintage, Paris 100.0 4 Allianz Index Tracking Shares Fund, Budapest 94.8 3 Allianz Indiceo 2015, Paris 98.7 3 Allianz Individual Insurance Group LLC, Minneapolis, MN 100.0 Allianz Informatique G.I.E., Paris 100.0 Allianz Informatyka Sp. z o.o., Warsaw 100.0 Allianz Infrastructure Luxembourg I S.à r.l., Luxembourg 100.0 Allianz Infrastructure Luxembourg I SICAV-FIS, Luxembourg 100.0 Allianz Infrastructure Luxembourg II SICAF-FIS, Luxembourg 100.0 Allianz Insurance (Hong Kong) Ltd., Hong Kong 100.0 Allianz Insurance Cie of Ghana Limited, Accra 100.0 Allianz Insurance Company Lanka Limited, Saram 100.0 Allianz Insurance Company of Singapore Pte. Ltd., Singapore 100.0 Allianz Insurance Company-Egypt S.A.E., Cairo 85.0 Allianz Insurance Management Asia Pacific Pte. Ltd., Singapore 100.0 Allianz Insurance plc, Guildford 100.0 Allianz Inversiones S.A., Bogotá D.C. 100.0 Allianz Invest 10 Division S/U, Vienna 100.0 4 Allianz Invest 11 Division Leben/Kranken, Vienna 100.0 4 Allianz Invest 12 Division Leben/Kranken, Vienna 100.0 4 Allianz Invest 50, Vienna 86.2 3 Allianz Invest Alternativ, Vienna 100.0 3 Allianz Invest d.o.o., Zagreb 100.0 4 Allianz Invest Kapitalanlage GmbH, Vienna 100.0 Allianz Invest Ostrent, Vienna 95.4 3 Allianz Invest Portfolio Blue, Vienna 80.6 3 Allianz Invest Spezial 3, Vienna 100.0 4 Allianz Investment Company LLC, Westport, CT 100.0 Allianz Investment Management LLC, Minneapolis, MN 100.0 Allianz Investment Management Milano S.p.A., Milan 100.0 Allianz Investment Properties Ltd., Guildford 100.0 Allianz Investmentbank Aktiengesellschaft, Vienna 100.0 Allianz Investments I Luxembourg S.à r.l., Luxembourg 100.0
Allianz Nederland Levensverzekering N.V., Rotterdam 100.0 Allianz Nederland Schadeverzekering N.V., Rotterdam 100.0 Allianz New Europe Holding GmbH, Vienna 100.0 Allianz New Zealand Limited, Auckland 100.0 Allianz Obligations Court Terme, Paris 93.2 3 Allianz Obligations Internationales, Paris 78.6 3 Allianz Obligations Monde, Paris 99.3 3 Allianz Octomax, Paris 100.0 3 Allianz Octomax 2, Paris 100.0 3 Allianz Octoplus, Paris 97.2 3 Allianz Octoplus 2, Paris 100.0 3 Allianz Octoplus 3, Paris 100.0 3 Allianz of America Inc., Westport, CT 100.0 Allianz of South Africa (Proprietary) Ltd., Marshalltown 100.0 Allianz One Beacon GP LLC, Wilmington, DE 100.0 Allianz One Beacon LP, Wilmington, DE 100.0 Allianz Opéra, Paris 100.0 4 Allianz Optéo, Paris 99.1 3 Allianz P.E.P Europa 1, Milan 86.8 4 Allianz P.E.P Europa 2, Milan 92.0 4 Allianz p.l.c., Dublin 100.0 Allianz Pan Asian REITs Fund Segregated Portfolio, George Town 100.0 4 Allianz Participations B.V., Amsterdam 100.0 Allianz Pension Fund Trustees Ltd., Guildford 100.0 Allianz Pensionskasse Aktiengesellschaft, Vienna 100.0 Allianz penzijní fond a.s., Prague 100.0 Allianz Pimco Corporate, Vienna 66.4 3 Allianz Pimco Mortgage, Vienna 88.9 3 Allianz pojistovna a.s., Prague 100.0 Allianz Polska Services Sp. z o.o., Warsaw 100.0 Allianz Popular Asset Management SGIIC S.A., Madrid 100.0 Allianz Popular Pensiones EGFP S.A., Madrid 100.0 Allianz Popular Vida Compañía de Seguros y Reaseguros S.A., Madrid 100.0 Allianz Popular S.L., Madrid 60.0 Allianz Primio 2015, Paris 99.5 3 Allianz Private Equity Luxembourg I SICAV-FIS, Luxembourg 100.0 Allianz Private Equity Luxembourg II SICAV-FIS, Luxembourg 100.0 Allianz Private Equity Partners Europa III, Milan 99.6 4 Allianz Private Equity UK Holdings Limited, London 100.0 Allianz Properties Limited, Guildford 100.0 Allianz Prudence, Paris 100.0 3 Allianz RCM Best Styles Euroland, Luxembourg 51.5 3 Allianz RCM Europe Small Cap Equity - AT - EUR, Luxembourg 63.8 3 Allianz Re Dublin Limited, Dublin 100.0 Allianz Real Estate France SAS, Paris 100.0 Allianz Real Estate I SICAV-FIS, Luxembourg 100.0 Allianz Real Estate II SICAV-FIS, Luxembourg 100.0 Allianz Real Estate of America LLC, Wilmington, DE 100.0 Allianz Real Estate Securities Europe (AT), Luxembourg 91.4 3 Allianz Renewable Energy Fund Management 1 Ltd., London 100.0 Allianz Renewable Energy Partners I LP, London 100.0 Allianz Renewable Energy Partners II Limited, London 100.0 Allianz Renewable Energy Partners III LP, London 98.0 Allianz Renewable Energy Partners IV Limited, London 98.0 Allianz Renewable Energy Partners V plc, London 100.0
Allianz Worldwide Care Ltd., Dublin 100.0 Allianz Worldwide Care Services Ltd., Dublin 100.0 Allianz Zagreb d.d., Zagreb 83.2 Allianz ZB d.o.o. Company for the Management of Obligatory Pension Funds, Zagreb 51.0 Allianz ZB d.o.o. Company for the Management of Voluntary Pension Funds, Zagreb 51.0 AllianzGo S.r.l., Trieste 100.0 Allianz-Slovenská DSS a.s., Bratislava 100.0 Allianz-Slovenská poist'ovna a.s., Bratislava 99.6 Allianz-Tiriac Pensii Private SAFPP SA, Bucharest 100.0 AllSecur B.V., Den Bosch 100.0 Amaya Compania de Seguros y Reaseguros S.A., Madrid 100.0 American Automobile Insurance Company, Corp., Earth City, MO 100.0 American Financial Marketing Inc., Minneapolis, MN 100.0 AMOS Austria GmbH, Vienna 100.0 AMOS IT Suisse AG, Zurich 100.0 Ann Arbor Annuity Exchange Inc., Ann Arbor, MI 100.0 Antoniana Veneta Popolare Assicurazioni S.p.A., Trieste 50.0 2 Antoniana Veneta Popolare Vita S.p.A., Trieste 50.0 2 APKV US Private REIT GP LLC, New York, NY 100.0 APKV US Private REIT LP, New York, NY 100.0 Approfrais SA, Evreux 100.0 Arab Gulf Health Services LLC, Beirut 100.0
BNP Paribas THR, Paris 99.5 3 Borgo San Felice S.r.l., Castelnuovo Berardenga (Siena) 100.0 Botanic Building SPRL, Brussels 100.0 BPS Brindisi 211 S.r.l., Brindisi 100.0 BPS Brindisi 213 S.r.l., Brindisi 100.0 BPS Brindisi 222 S.r.l., Brindisi 100.0 BPS Mesagne 214 S.r.l., Brindisi 100.0 BPS Mesagne 215 S.r.l., Brindisi 100.0 BPS Mesagne 216 S.r.l., Brindisi 100.0 BPS Mesagne 223 S.r.l., Brindisi 100.0 BPS Mesagne 224 S.r.l., Brindisi 100.0 Brasil de Imoveis e Participacoes Ltda., São Paulo 100.0 Bright Mission Berhad Ltd., Kuala Lumpur 100.0 British Reserve Insurance Co. Ltd., Guildford 100.0 BSMC (Thailand) Limited, Bangkok 100.0 Bulgaria Net Co. Ltd., Sofia 98.4 Bureau d'Expertises Despretz S.A., Brussels 100.0 Bx3 S.r.l., Trieste 100.0 Cabinet Cornil et Cie, Paris 100.0 Calobra Investments Sp. z o.o., Warsaw 100.0 Calypso S.A., Paris 100.0 CAP Rechtsschutz-Versicherungsgesellschaft AG, Zurich 100.0 CAPEX, Paris 85.7 3 Caywood-Scholl Capital Management LLC, Wilmington, DE 100.0 Centrale Photovoltaique de Saint Marcel sur aude SAS, Paris 100.0 Centrale Photovoltaique de Valensole SAS, Paris 100.0 CEPE de Langres Sud S.à r.l., Avignon 100.0 CEPE de Mont Gimont S.à r.l., Versailles 100.0 CFC Capital Partners Insurance Center LLC, Huntington Beach, CA 100.0 Château Larose Trintaudon S.A., Saint Laurent Médoc 100.0 Chicago Insurance Company, Corp., Chicago, IL 100.0 CIC Allianz Insurance Ltd., Sydney 100.0 CJSC IC "Corporate Medical Insurance", Krasnoyarsk 100.0 Club Marine Limited, Sydney 100.0 Colisee S.à r.l., Luxembourg 100.0 Compagnie de Gestion et Prevoyance, Strasbourg 99.9 Companhia de Seguros Allianz Portugal S.A., Lisbon 64.8 Compañía Colombiana de Servicio Automotriz S.A., Bogotá D.C. 100.0 Cornhill Trustee (Guernsey) Ltd., St. Peter Port 100.0 Corsetec Ltda., São Paulo 99.5 CPRN Thailand Ltd., Bangkok 100.0 CPRN-Holdings Limited, Bangkok 100.0 Creactif Allocation, Paris 100.0 3 CreditRas Assicurazioni S.p.A., Milan 50.0 2 CreditRas Vita S.p.A., Milan 50.0 2 Darta Saving Life Assurance Ltd., Dublin 100.0 Deeside Investments Inc., Wilmington, DE 50.1 Delta Technical Services Ltd., London 100.0 Diamant Real Spol. s r.o., Prague 100.0 Dresdner Kleinwort Pfandbriefe Investments II Inc., Minneapolis, MN 100.0 Dresdner RCM Global Investors (Jersey) Ltd., Jersey 100.0 EF Solutions LLC, Wilmington, DE 100.0 EHPAD Assur, Paris 100.0 Emerald Global Inv., Paris 100.0 3 Energie Eolienne Lusanger SARL, Orleans 100.0 Euler Gestion, Courbevoie 100.0 4 Euler Hermes ACI Holding Inc., New York, NY 100.0 Euler Hermes ACI Inc., Baltimore, MD 100.0 Euler Hermes ACI Services LLP, Baltimore, MD 100.0
Euler Hermes ACMAR Services, Casablanca 100.0 Euler Hermes Argentina, Buenos Aires 100.0 Euler Hermes Asset Management France S.A., Paris 100.0 Euler Hermes Canada Services, Montreal, QC 100.0 Euler Hermes Cescob Service s.r.o., Prague 100.0 Euler Hermes Chile Servicios Limitada, Santiago de Chile 100.0 Euler Hermes Collections Sp. z o.o., Warsaw 100.0 Euler Hermes Collections UK Limited, London 100.0 Euler Hermes Colombia, Bogotá D.C. 100.0 Euler Hermes Consulting (Shanghai) Co. Ltd., Shanghai 100.0 Euler Hermes Crédit France S.A.S., Paris 100.0 Euler Hermes Credit Insurance Agency (S) Pte. Ltd., Singapore 100.0 Euler Hermes Credit Insurance Belgium S.A., Brussels 100.0 Euler Hermes Credit Management Services Ireland Ltd., Dublin 100.0 Euler Hermes Credit Services (JP) Ltd., Tokyo 100.0 Euler Hermes Credit Underwriters Hong Kong Ltd., Hong Kong 100.0 Euler Hermes Crédito Compañía de Seguros y Reaseguros S.A., Madrid 100.0 Euler Hermes Emporiki SA, Athens 60.0 Euler Hermes Emporiki Services Ltd., Athens 100.0 Euler Hermes France S.A., Paris 100.0 Euler Hermes Luxembourg Holding S.à r.l., Luxembourg 100.0 Euler Hermes Magyar Követeleskezelö Kft., Budapest 100.0 Euler Hermes Netherlands, Hertogenbosch 100.0 Euler Hermes Patrimonia, Brussels 100.0 Euler Hermes Ré SA, Senningerberg 100.0 Euler Hermes Real Estate OPCI, Paris 60.0 Euler Hermes Recouvrement France S.A.S., Paris 100.0 Euler Hermes Reinsurance AG, Zurich 100.0 Euler Hermes Risk Services UK Limited, London 100.0 Euler Hermes Risk Yönetimi, Istanbul 100.0 Euler Hermes S.A., Paris 70.0 Euler Hermes Seguros de Crédito à Exportação S.A., São Paulo 100.0 Euler Hermes Seguros de Crédito S.A., Santiago de Chile 100.0 Euler Hermes Seguros de Crédito S.A., Mexico City 100.0 Euler Hermes Seguros de Crédito S.A., São Paulo 100.0 Euler Hermes Service AB, Stockholm 100.0 Euler Hermes Services AG, Zurich 100.0 Euler Hermes Services B.V., Hertogenbosch 100.0 Euler Hermes Services Belgium S.A., Brussels 100.0 Euler Hermes Services India Privat Limited, Mumbai 100.0 Euler Hermes Services S.A.S., Paris 100.0 Euler Hermes Services Sp. z o.o., Warsaw 100.0 Euler Hermes Services UK Limited, London 100.0 Euler Hermes Servicii Financiare S.R.L., Bucharest 100.0 Euler Hermes Servicios de Crédito S.L., Madrid 100.0 Euler Hermes Servicios S.A., Mexico City 100.0 Euler Hermes Servicos Ltda., São Paulo 100.0 Euler Hermes Servis s.r.o., Bratislava 100.0 Euler Hermes Sigorta A.S., Istanbul 100.0 Euler Hermes South Express S.A., Brussels 100.0 Euler Hermes Tech SAS, Nanterre 100.0 Euler Hermes Trade Credit Limited, Auckland 100.0 Euler Hermes Trade Credit Underwriting Agents Pty. Ltd., Sydney 100.0 Euler Hermes UMA, Louisville, KY 100.0 Euler Hermes World Agency SASU, Paris 100.0
Euler Hermes, Mierzejewska-Kancelaria Prawna Sp.k, Warsaw 100.0 Eurl 20/22 Le Peletier, Paris 100.0 Euro Garantie AG, Pfäffikon 100.0 Euro Gestion, Courbevoie 100.0 4 Eurosol Invest S.r.l., Buttrio 100.0 Ex Pontic s.r.l., Bucharest 100.0 Expositio Kft., Budapest 100.0 Expositio sp. z o.o., Warsaw 100.0 Expositio Usluge d.o.o. u likvidaciji, Zagreb 100.0 FAI Allianz Ltd., Sydney 100.0 FCPR Fregate, Paris 58.3 3 Fenix Directo Compania de Seguros y Reaseguros S.A., Madrid 100.0 Ferme Eolienne de Villemur-sur-Tarn SARL, Toulouse 100.0 Ferme Eolienne des Jaladeaux SARL, Toulouse 100.0 FFIC County Mutual Insurance Company, Corp., Dallas, TX 100.0 Fiduciaria Colseguros S.A., Bogotá D.C. 100.0 Financiere Aldebaran SAS, Paris 100.0 Financiere Callisto SAS, Paris 100.0 Financiere Sirius SAS, Paris 100.0 Financiere Soho SAS, Paris 100.0 Fireman's Fund Financial Services LLC, Dallas, TX 100.0 Fireman's Fund Indemnity Corporation, Liberty Corner, NJ 100.0 Fireman's Fund Insurance Company of Bermuda, Hamilton 100.0 Fireman's Fund Insurance Company of Hawaii Inc., Honolulu, HI 100.0 Fireman's Fund Insurance Company of Ohio, Corp., Cincinnati, OH 100.0 Fireman's Fund Insurance Company, Corp., Novato, CA 100.0 Floralis, Paris 100.0 3 Fondo Chiuso Allianz Infrastructure Partners I, Milan 100.0 4 Fragonard Assurance S.A., Paris 100.0 Friederike MLP S.à r.l., Luxembourg 100.0 Fusion Company Inc., Richmond, VA 80.0 Gaipare Action, Paris 99.2 3 GamePlan Financial Marketing LLC, Woodstock, GA 100.0 GAP 1 AN, Paris 63.5 3 GAP Reactif Canton A, Paris 64.9 3 Generation Vie S.A., Courbevoie 52.5 Genialloyd S.p.A., Milan 100.0 Gestion de Téléassistance et de Services S.A., Chatillon 100.0 Gestion Produits Str, Puteaux 74.0 3 GIE Euler Hermes SFAC Services, Paris 100.0 Global Transport & Automotive Insurance Solutions Pty Limited, Sydney 76.4 Groupe FAST souscription d'assurances, Paris 100.0 Hauteville Insurance Company Limited, Guernsey 100.0 Havelaar et Van Stolk B.V., Rotterdam 100.0 HELVIASS Verzekeringen BV, Rotterdam 100.0 Home & Legacy (Holdings) Limited, London 100.0 Home & Legacy Insurance Services Limited, London 100.0 Hunter Premium Funding Ltd., Sydney 100.0 IDR Actions Euros, Paris 98.4 3 Immovalor Gestion S.A., Paris 100.0 Insurance and Reinsurance AG Energy, Sofia 50.9 Intermediass S.r.l., Milan 100.0 International Film Guarantors LLC, Santa Monica, CA 100.0 International Film Guarantors Ltd., London 100.0 Interstate Fire & Casualty Company, Chicago, IL 100.0 Investitori SGR S.p.A., Milan 100.0
ITEB B.V., Rotterdam 100.0 JCR Intertrade Ltd., Bangkok 40.0 2 Jefferson Insurance Company Corp., New York, NY 100.0 Ken Tame & Associates Pty Ltd., Sydney 69.0 Kiinteistö OY Eteläesplanadi 2, Helsinki 100.0 Königinstrasse I S.à r.l., Luxembourg 100.0 La Rurale, Paris 99.8 Le Profil des Profils, Paris 66.5 3 Les Vignobles de Larose, Saint Laurent Médoc 100.0 Life Sales LLC, Novato, CA 100.0 LLC "Allianz Eurasia Healthcare", Saint Petersburg 100.0 Lloyd Adriatico Holding S.p.A., Trieste 99.9 London Verzekeringen N.V., Rotterdam 100.0 Magdeburger Sigorta A.S., Istanbul 100.0 Managed Insurance Operations B.V., Rotterdam 100.0 Martin Maurel Vie, Courbevoie 100.0 Medexpress, Saint Petersburg 99.8 Medi24 AG, Bern 100.0 Medibroker s.r.o., Bratislava 100.0 Medisalud Compania Colombiana de Medicina Prepagada S.A. (En Liquidación), Bogotá D.C. 100.0 Metallrente Fonds Portfolio, Luxembourg 57.3 3 Mondial Assistance Australia Holding Pty Ltd., Toowong 100.0 Mondial Assistance Beijing Services Co. Ltd., Beijing 100.0 Mondial Assistance France SAS, Paris 95.0 Mondial Assistance France Services à la personne SAS, Paris 100.0 Mondial Assistance GmbH, Vienna 100.0 Mondial Assistance Indian Ocean LLC, Mauritius 100.0 Mondial Assistance Ireland Ltd., Dublin 100.0 Mondial Assistance Mexico S.A. de C.V., Mexico City 100.0 Mondial Assistance Oblig Euro, Paris 100.0 4 Mondial Assistance OOO, Moscow 100.0 Mondial Assistance Portugal Servicos de Assistência Lda., Paco de Aros 100.0 Mondial Assistance Réunion S.A., Saint Denis 100.0 Mondial Assistance S.r.l., Bucharest 100.0 Mondial Assistance s.r.o., Prague 100.0 Mondial Assistance Service Chile Limitada, Las Condes 100.0 Mondial Assistance Service Espana S.A., Madrid 100.0 Mondial Assistance Services Hellas S.A., Athens 51.0 Mondial Assistance Servis Hizmetleri A.S., Istanbul 97.0 Mondial Assistance Sigorta Aracilik Hizmetleri LS, Istanbul 100.0 Mondial Assistance Sp. z o.o., Warsaw 100.0 Mondial Assistance United Kingdom Ltd., Croydon Surrey 100.0 Mondial Contact Center Italia S.r.l., Taurisano 70.0 Mondial Protection Corretora de Seguros Ltda., São Paulo 100.0 Mondial Service - Belgium S.A., Brussels 100.0 Mondial Service Argentina S.A., Buenos Aires 100.0 Mondial Servicios S.A. de C.V., Mexico City 100.0 Mondial Servicos Ltda., São Paulo 100.0 Monéger SA, Dakar 100.0 National Surety Corporation, Chicago, IL 100.0 Neoasistencia Manoteras S.L., Madrid 100.0 Nextcare Holdings WLL, Manama 75.0 NEXtCARE Lebanon SAL, Beirut 100.0 NEXtCARE Egypt LLC, Cairo 100.0 NFJ Investment Group LLC, Dover, DE 100.0 North American London Underwriters Ltd., Hamilton 100.0
Selecta Holding B.V., Amsterdam 100.0 Selecta Holding Ltd., London 100.0 Selecta Holding SAS, Paris 100.0 Selecta Hungary Automataüzemeltetö Kft., Budapest 100.0 Selecta Luxembourg SA, Leudelange 100.0 Selecta Management AG, Zug 100.0 Selecta Nordic Holding AB, Stockholm 100.0 Selecta Purchasing AG, Zug 100.0 Selecta Refreshments Ltd., Dublin 100.0 Selecta SA, Paris 99.9 Selecta SA, Zaventem 100.0 Selecta TMP AG, Zug 100.0 Selecta UK Ltd., Birmingham 100.0 Selection Multi-Gerants Emergents, Paris 72.0 3 Selection Multi-Gerants Value, Paris 54.6 3 Semaphore, Paris 99.6 3 SI 173-175 Boulevard Haussmann SAS, Paris 100.0 SIA Baltic Payment Systems, Riga 100.0 SIA Selecta, Riga 100.0 Siac Services S.r.l., Rome 100.0 Silex Gas Management AS, Oslo 100.0 Silex Gas Norway AS, Oslo 100.0 Sistemi Informativi Allianz S.p.c.A., Milan 100.0 SLC "Allianz Life Ukraine", Kiev 100.0 SMG Asie Emergente, Paris 52.5 3 SNC AGF Clearing, Paris 99.9 Società Agricola San Felice S.p.A., Milan 100.0 Société de Production D'électricité D'harcourt Moulaine SAS, Paris 100.0 Société d'Energie Eolien Cambon SAS, Paris 100.0 Societe d'Exploitation du Parc Eolien d'Aussac Vadalle SAS, Paris 100.0 Société Européenne de Protection et de Services d'Assistance à Domicile S.A., Paris 56.0 Société Nationale Foncière S.A.L., Beirut 66.0 Sofiholding S.A., Brussels 100.0 South City Office Broodthaers SA, Brussels 100.0 SpaceCo S.A., Paris 100.0 SPICAV Allianz France Real Estate Invest, Paris 100.0 Standard General Agency Inc., Dallas, TX 100.0 StocksPLUS Management Inc., Dover, DE 100.0 Synergie Select EV, Paris 64.2 3 Téléservices et Sécurité "TEL2S" SARL, Chatillon 99.9 TFI Allianz Polska S.A., Warsaw 100.0 The American Insurance Company, Corp., Cincinnati, OH 100.0 The Annuity Store Financial & Insurance Services LLC, Sacramento, CA 100.0 The MI Group Limited, Guildford 99.4 Three Pillars Business Solutions Limited, Guildford 100.0 Tihama Investments B.V., Amsterdam 100.0 Top Assistance Service GmbH, Vienna 100.0 Top Versicherungsservice GmbH, Vienna 100.0 Top Vorsorge-Management GmbH, Vienna 75.0 Towarzystwo Ubezpieczen Euler Hermes S.A., Warsaw 100.0 Trafalgar Insurance Public Limited Company, Guildford 100.0 Travel Care Inc., Richmond, VA 100.0 TU Allianz Polska S.A., Warsaw 100.0 TU Allianz Zycie Polska S.A., Warsaw 100.0 UAB Selecta, Vilnius 100.0 UTE Gesecopri Servecarve S.r.l., Madrid 100.0 Vendcare (Holdings) Limited, Birmingham 100.0 Vendcare Services Ltd., Birmingham 100.0 Veronia Shelf s.r.o., Prague 100.0 VertBois S.à r.l., Luxembourg 100.0 Via Pierre 1, Paris 100.0
Non-consolidated affiliated entities A. Diffusion, Nanterre 99.9 AFA, Paris 99.9 AGF Pension Trustees Ltd., Guildford 100.0 Allianz America Latina S.C. Ltda., Rio de Janeiro 100.0 Allianz Financial Services S.A., Athens 100.0 Allianz Global Corporate & Specialty AG Escritorio de Representacao no Brasil Ltda., São Paulo 100.0 Allianz Global Investors Services (UK) Ltd., London 100.0 Allianz Insurance Services Ltd., Athens 100.0 Allianz International Ltd., Guildford 100.0 Allianz Northern Ireland Limited, Belfast 100.0 Allianz Risk Consultants B.V., Rotterdam 100.0 Blikman & Sartorius B.V., Amsterdam 100.0 business lounge GmbH, Vienna 100.0 CCA, Paris 100.0 Cogar, Paris 100.0 First Rate Direct Limited, Belfast 100.0 Gesellschaft für Vorsorgeberatung AG, Bern 100.0 Gosman & Kraan B.V., Amsterdam 100.0 Guangzhou printcom Printing Supplies Co. Ltd., Guanghzou 100.0 GWS Printing Service B.V., Schijndel 100.0 GWS Printing Systems Holding B.V., Schijndel 100.0 ICC Evaluation, Paris 100.0 Knightsbridge Allianz LP, Bartlesville, OK 99.5 3 manroland (China) Ltd., Hong Kong 100.0 manroland (India) Pvt. Ltd., New Delhi 100.0 manroland (Korea) Ltd., Seoul 100.0 manroland (Taiwan) Ltd., Taipei 100.0 manroland Australasia Pty Limited, Regents Park 100.0 manroland Baltics SIA, Riga 100.0 manroland Benelux N.V., Wemmel 100.0 manroland Bulgaria-eood, Sofia 100.0 manroland Canada Inc., Toronto, ON 100.0 manroland CEE AG, Vienna 100.0 manroland Ceská Republika spol. s.r.o., Prague 100.0 manroland Co. Ltd., Tokyo 100.0 manroland d.o.o., Ljubljana 100.0 manroland Danmark A/S, Vaerloese 100.0 manroland do Brasil Servicios Ltda., São Paulo 100.0 manroland Finland Oy, Vantaa 100.0 manroland France SA, Paris 100.0 manroland Great Britain Ltd., Mitcham 100.0 manroland Hrvatska d.o.o., Novaki-SV. Nedjelja 100.0 manroland Iberica Sistemas S.A., Cascais 74.0 manroland Iberica Sistemas S.L., Madrid 100.0 manroland Inc., Westmont, IL 100.0 manroland Ireland Ltd., Dublin 99.7 manroland Italia S.p.A., Milan 99.3 manroland latina Argentina S.A., Buenos Aires 100.0 manroland latina Colombia SAS, Bogotá D.C. 100.0 manroland latina Peru SAC, Lima 100.0 manroland latina S.A., Santiago de Chile 100.0
Allianz Group’s consolidated financial statements. 6 Group share through indirect holder Roland Holding GmbH, 7 Classified as joint venture according to IAS 31. 8 Classified as associated entity according to IAS 28. 9 Insolvent. Dependent entities are shown in a way, which reflects the state as of the date of filing for insolvency.
manroland latina S.A. de C.V., Mexico City 100.0 manroland Magyarorszag Kft., Budapest 100.0 manroland Malaysia Sdn. Bhd., Kuala Lumpur 100.0 manroland Mexico Servicios S.A. de C.V., Mexico City 100.0 manroland Norge AS, Lörenskog 100.0 manroland Poland Sp. z o.o., Nadarzyn 100.0 manroland Polska Sp. z o.o., Nadarzyn 100.0 manroland Printing Equipment (Shanghai) Ltd., Shanghai 100.0 manroland Printing Equipment (Shenzen) Co. Ltd., Shenzen 100.0 manroland Romania S.R.L., Bucharest 100.0 manroland Singapore Pte Ltd., Singapore 100.0 manroland Southern Africa (Pty) Ltd., Cape Town 100.0 manroland Sverige AB, Trollhättan 100.0 manroland Swiss AG, Kirchberg 100.0 manroland Thailand Ltd., Bangkok 100.0 manroland Western Europe Group B.V., Amsterdam 100.0 OSECA SARL, Dakar 99.6 PPI Media US Inc., Westmont, IL 100.0 Press Services Centre Limited, Mitcham 100.0 printcom (Asia) Limited, Hong Kong 100.0 PT manroland Indonesia Ltd., Jakarta 100.0 RE-AA SA, Abidjan 97.5 SA Immobilière de L'Avenue du Roule, Courbevoie 100.0 SCI champ laurent, Courbevoie 100.0 SCI J.T., Courbevoie 100.0 SCI La Balandrane, Courbevoie 100.0 SCI Paris X, Courbevoie 100.0 SCI Vilaje, Courbevoie 100.0 SIFCOM Assurances, Abidjan 60.0 Société Foncière Européenne, Amsterdam 100.0 Top Versicherungs-Vermittler Service GmbH, Vienna 100.0 Votra S.A., Lausanne 100.0
Joint Ventures Allee-Center Kft., Budapest 50.0 Allianz C.P. General Insurance Co. Ltd., Bangkok 50.0 Atenction Integral a la Dependencia S.L., Cordoba 50.0 Bajaj Allianz Financial Distributors Limited, Pune 50.0 Compania de Seguro de Creditos S.A., Lisbon 50.0 Dorcasia Ltd., Sydney 50.0 Euro Nederland B.V., Amsterdam 50.0 Europe Logistics Venture 1 FCP-FIS, Luxembourg 83.3 7 International Shopping Centre Investment S.A., Luxembourg 50.0 Market Street Trust, Sydney 50.0 Millea Mondial Co. Ltd., Tokyo 50.0 One Beacon Joint Venture LP, Wilmington, DE 50.0 Previndustria - Fiduciaria Previdenza Imprenditori S.p.A., Milan 50.0 SC Holding, Paris 50.0 TopTorony Ingatlanhasznosító Zrt., Budapest 50.0
Interpolis Kreditverzekeringen N.V., Hertogenbosch 45.0 Inventus Capital Partners Fund II Ltd., Ebene 20.0 Invesc Multi Plus E, Paris 33.8 3 IPE Tank and Rail Investment 1 S.C.A., Luxembourg 48.8 JPMorgan IIF UK1 LP, Dublin 36.7 Le Cottage, Paris 35.4 3 MedCentreStrakh ZAO, Moscow 36.4 Medgulf Allianz Takaful B.S.C., Seef 25.0 Metropole New Euro I, Luxembourg 49.8 3 MM Composition Amerique, Marseille 47.6 3 MMGI Euromix Action, Marseille 27.6 3 Natinium 2007-1 plc, Dublin 48.4 3 New Path S.A., Buenos Aires 40.0 Oddo Avenir (D), Paris 22.7 3 Oddo Capital Monde, Paris 31.1 3 Oddo Convertibles, Paris 26.7 3 Oddo Convertibles Taux, Paris 26.6 3 Oddo Court Terme, Paris 34.6 3 Oddo et Cie SCA, Paris 20.0 Oddo Euro Index AC, Paris 21.6 3 Oddo Europe, Paris 35.5 3 Oddo FR IND ACT A, Paris 41.5 3 Oddo Generation C, Paris 28.1 3 Oddo Gestion Prudente, Paris 28.3 3 Oddo Immobilier C, Paris 21.7 3 Oddo Indice Japon, Paris 35.6 3 Oddo Rendement 2013, Paris 30.2 3 Oddo Rendement 2015, Paris 26.1 3 Oddo US Mid Cap, Paris 36.9 3 Oddo USA Index Actif, Paris 29.4 3 OeKB EH Beteiligungs- und Management AG, Vienna 49.0 OVS Opel VersicherungsService GmbH, Vienna 40.0 PAR Holdings Limited, Hamilton 20.8 PERFECTIS I Ltd., Paris 27.3 3 PGREF V 1301 Sixth Holding LP, Wilmington, DE 24.5 PGRESS Debt Holdings LP, Wilmington, DE 20.0 PHRV (Paris Hotels Roissy Vaugirard), Paris 30.6 Pinatton France, Paris 25.3 3 Povolzhskiy Leasing Center OOO, Moscow 20.0 Red Mountain Capital Partners I L.P., Los Angeles, CA 25.0 3 RMCP PIV DPC L.P., Los Angeles, CA 25.0 3 Roskurort ZAO, Moscow 50.0 8 Scandferries Chartering A/S, Copenhagen 35.0 SDU Finco B.V., Amsterdam 49.7 SK Versicherung AG, Vienna 25.8 Societe de Distributuin Automatique, Tunis 49.0 Solveig Gas Holdco AS, Oslo 30.0 Sunderland Insurance Services Inc., Fargo, ND 40.0 UNIM, Paris 30.0 Wattinvest C, Paris 39.0 3 Wheelabrator INV, Paris 27.0 3 White Knight FCPR SARL, Paris 21.0 3 Wildlife Works Carbon LLC, San Francisco, CA 10.0 8 XAnge Capital SARL, Paris 21.0 3
Dr. Helmut Perlet since 9 May, 2012 Chairman Chairman of the Supervisory Board Allianz SE
Dr. tHomaS enDerS since 1 January, 2013 Chief Executive Officer EADS N.V.
Jim Hagemann SnaBe since 1 January, 2013 Co-Chief Executive Officer SAP AG
ProF. Dr.-ing. e.H. HanS-olaF HenKel until 31 December, 2012 Honorary Professor, University of Mannheim
ProF. Dr. Dieter HunDt, Senator e. H. Chairman of the Supervisory Board Allgaier Werke GmbH
ProF. Dr. DenniS J. SnoWer President of the Kiel Institute for the World Economy
Holger Strait until 31 December, 2012 Managing Partner J. G. Niederegger GmbH & Co. KG
Franz Humer Chairman of the Board of Directors of Roche Holding Ltd, Chairman of Diageo plc iain lorD vallance oF tummel Chairman of the Board of Directors, Amsphere Ltd minoru maKiHara Senior Corporate Advisor of Mitsubishi Corporation cHriStoPHe De margerie Chairman and Chief Executive Officer of Total S.A.
JacqueS naSSer Chairman BHP Billiton, Senior Advisor of One Equity Partners
Dr. gianFelice rocca Chairman of Techint Group of Companies angel ron Chairman and Chief Executive Officer of Banco Popular antHoni Salim President and Chief Executive Officer of Salim Group louiS ScHWeitzer Président d’Honneur de Renault
Mandates of the Members of the Supervisory Board DR. HELMUT PERLET since 9 May 2012 Chairman Former Member of the Board of Management of Allianz SE Membership in other statutory supervisory boards and SE administrative boards in Germany Commerzbank AG GEA Group AG Membership in Group bodies Allianz Deutschland AG until 23 March 2012 Membership in comparable 1 supervisory bodies Membership in Group bodies Allianz France S.A. until 14 March 2012 Allianz Life Insurance Company of North America until 29 February 2012 Allianz of America, Inc. until 29 February 2012 Allianz S.p.A. (Vice Chairman) until 16 March 2012 Fireman’s Fund Insurance Company until 29 February 2012
DR. gERHaRD cRoMME until 14 August 2012 Vice Chairman Chairman of the Supervisory Board of ThyssenKrupp AG Membership in other statutory supervisory boards and SE administrative boards in Germany Axel Springer AG Siemens AG (Chairman) ThyssenKrupp AG (Chairman) Membership in comparable 1 supervisory bodies Compagnie de Saint-Gobain S.A.
cHRiSTinE BoSSE since 15 August 2012 Former Group CEO of the Executive Management of Tryg Membership in comparable 1 supervisory bodies Aker ASA Flügger A/S (Chairwoman) Nordea Bank A/S until 14 March 2013 TDC A/S
JEan-JacQUES cETTE Chairman of the Group Works Council of Allianz France S.A. Membership in comparable 1 supervisory bodies Membership in Group bodies Allianz France S. A.
PRof. DR. REnaTE KöcHER Head of Institut für Demoskopie Allensbach (Allensbach Institute) Membership in other statutory supervisory boards and SE administrative boards in Germany BMW AG Infineon Technologies AG Nestlé Deutschland AG since 25 May 2012 Robert Bosch GmbH since 30 March 2012
PETER KoSSUBEK until 9 May 2012 Employee of Allianz Deutschland AG
E Further Information 369 Joint Advisory Council of the Allianz Companies 370 International Advisory Board 371 Mandates of the Members of the Supervisory Board 372 Mandates of the Members of the Board of Management 374 Glossary 379 Indexes
DR. PaUL acHLEiTnER until 31 May 2012 Finance Membership in other statutory supervisory boards and SE administrative boards in Germany Bayer AG Daimler AG RWE AG Membership in Group bodies Allianz Asset Management AG until 31 May 2012 Allianz Investment Management SE (Chairman) until 31 May 2012 oLivER BäTE Controlling, Reporting, Risk until 31 December 2012 Insurance Western & Southern Europe since 1 January 2013 Membership in other statutory supervisory boards and SE administrative boards in Germany Membership in Group bodies Allianz Asset Management AG until 31 December 2012 Allianz Global Corporate & Specialty AG (Vice Chairman) until 8 May 2013 Allianz Investment Management SE (Vice Chairman) until 31 December 2012 Membership in comparable 1 supervisory bodies Membership in Group bodies Allianz France S.A.
ManUEL BaUER Insurance Growth Markets Membership in comparable 1 supervisory bodies Bajaj Allianz General Insurance Company Ltd. Bajaj Allianz Life Insurance Co. Ltd. Zagrebacka Banka until 27 April 2012 Membership in Group bodies Allianz Hungária Biztosító Zrt. (Chairman) Allianz-Slovenská poist‘ovna a.s. Allianz Tiriac Asigurari S.A. (Chairman) OJSC IC Allianz (Chairman) TUiR Allianz Polska S.A. (Chairman) TU Allianz Życie Polska S.A. (Chairman)
cLEMEnT BooTH Global Insurance Lines & Anglo Markets Membership in other statutory supervisory boards and SE administrative boards in Germany Membership in Group bodies Allianz Global Corporate & Specialty AG (Chairman) Membership in comparable 1 supervisory bodies Membership in Group bodies Allianz Australia Insurance Ltd. Allianz Insurance plc (Chairman) Allianz Irish Life Holdings plc Euler Hermes S.A. (Chairman)
DR. HELga JUng Insurance Iberia & Latin America, Legal & Compliance, Mergers & Acquisitions Membership in other statutory supervisory boards and SE administrative boards in Germany Membership in Group bodies Allianz Global Corporate & Specialty AG from 8 May 2013 Membership in comparable 1 supervisory bodies Unicredit S. p. A.
since 31 January 2012 Membership in Group bodies Allianz Compañía de Seguros y Reaseguros S.A. since 3 July 2012 Companhia de Seguros Allianz Portugal S.A. since 6 March 2012
until 16 February 2012 Fireman‘s Fund Insurance Company (Chairman) until 15 February 2012 Allianz Mexico S.A. Compañía de Seguros (Chairman) until 29 February 2012
DR. MaXiMiLian ZiMMERER since 1 June 2012 Investments Membership in other statutory supervisory boards and SE administrative boards in Germany Membership in Group bodies Allianz Asset Management AG Allianz Investment Management SE (Chairman)
AffiliAted enterprises The parent company of the Group and all consolidated subsidiaries. Subsidiaries are enterprises where the parent company can exercise a significant influence over their corporate strategy in accordance with the control concept. This is possible, for example, where the parent company holds, directly or indirectly, a majority of the voting rights, has the power to appoint or remove a majority of the members of the Board of Management or equivalent governing body, or where there are contractual rights of control.
AggregAte policy reserves Policies in force – especially in life, health, and personal accident insurance – give rise to potential liabilities for which funds have to be set aside. The amount required is calculated actuarially.
Where it is determined that a loan cannot be repaid, the uncollectable amount is written off against any existing specific loan loss allowance, or directly recognized as expense in the income statement. Recoveries on loans previously written off are recognized in the income statement under net loan loss provisions.
Assets under mAnAgement The total of all investments, valued at current market value, which the Group has under management with responsibility for maintaining and improving their performance. In addition to the Group’s own investments, they include investments held under management for third parties.
AssociAted enterprises All enterprises, other than affiliated enterprises or joint ventures, in which the Group has an interest of between 20 % and 50 %, regardless of whether a significant influence is actually exercised or not.
AvAilAble-for-sAle investments Available-for-sale investments are securities which are neither held to maturity nor have been acquired for sale in the near term; available-forsale investments are carried at fair value in the balance sheet.
contingent liAbilities Financial obligations not shown as liabilities on the balance sheet because the probability of a liability actually being incurred is low. Example: guarantee obligations.
counter-cyclicAl premium (ccp) Under the current Solvency ii guideline, a full spread risk calculation is required for all fixed income assets except government bonds in the European Economic Area. In recent developments it was recognized by regulatory authorities that this could create an artificial volatility for the riskbearing funds as well as for the risk capital which does not truly reflect an insurer’s business model, where assets are usually held to maturity to a large extent and spread risk would only become relevant in case of forced sales of assets. Therefore, the counter-cyclical premium (ccp) was introduced (e.g. within the draft of the Level 2 implementing measures of Solvency ii) as a means to counter the exposure to this spread volatility and thus to reduce the impact of distorted markets on the determination of the available financial resources due to illiquidity. Effectively, the ccp is considered as one component of the discount curve in the liability valuation.
credit risk The risk that one party to a contract will fail to discharge its obligations and thereby cause the other party to incur financial loss.
defined benefit plAns For defined benefit plans, the participant is granted a defined benefit by the employer or via an external entity. In contrast to defined contribution arrangements, the future cost to the employer of a defined benefit plan is not known with certainty in advance. To determine the expense over the period, accounting regulations require that actuarial calculations are carried out according to a fixed set of rules.
defined contribution plAns Defined contribution plans are funded through independent pension funds or similar organizations. Contributions fixed in advance (e. g. based on salary) are paid to these institutions and the beneficiary’s right to benefits exists against the pension fund. The employer has no obligation beyond payment of the contributions and is not participating in the investment success of the contributions.
derivAtive finAnciAl instruments Financial contracts, the values of which move in relationship to the price of an underlying asset. Derivative financial instruments can be classified in relation to their underlying assets (e. g. interest rates, share prices, foreign currency exchange rates or prices of goods). Important examples of derivative financial instruments are options, futures, forwards and swaps.
eArnings per shAre (bAsic/ diluted) Ratio calculated by dividing the net income for the year attributable to share holders by the weighted average number of shares outstanding. For calculating diluted earnings per share the number of shares and the net income for the year attributable to shareholders are adjusted by the dilutive effects of any rights to subscribe for shares which have been or can still be exercised. Subscription rights arise in connection with participation certificates and share based compensation plans.
finAnciAl Assets cArried At fAir vAlue through income Financial assets carried at fair value through income include financial assets held for trading and financial assets designated at fair value through income.
finAnciAl liAbilities cArried At fAir vAlue through income Financial liabilities carried at fair value through income include financial liabilities held for trading and financial liabilities designated at fair value through income.
finAnciAl vAr Financial Value at Risk (VaR) is the diversified aggregation of market risk and credit risk.
funds held by/for others under reinsurAnce contrActs Funds held by others are funds to which the reinsurer is entitled but which the ceding insurer retains as collateral for future obligations of the reinsurer. The ceding insurer shows these amounts as
held for sAle A non-current asset is classified as held for sale if its carrying amount will be recovered principally through sale rather than though continuing use. On the date a non-current asset meets the criteria as held for sale, it is measured at the lower of its carrying amount and fair value less costs to sell.
ifrs International Financial Reporting Standards. Since 2002, the designation ifrs applies to the overall framework of all standards approved by the International Accounting Standards Board. Already approved standards will continue to be cited as International Accounting Standards (iAs).
loss frequency Number of losses in relation to the number of insured risks.
pArticipAting certificAtes Amount payable on redemption of participating certificates issued. The participating certificates of Allianz SE carry distribution rights based on the dividends paid, and subscription rights when the capital stock is increased; but they carry no voting rights, no rights to participate in any proceeds of liquidation, and no rights to be converted into shares.
premiums written/eArned Premiums written represent all premium revenues in the year under review. Premiums earned represent that part of the premiums written used to provide insurance coverage in that year. In the case of life insurance products where the policyholder carries the investment risk (e. g. variable annuities), only that part of the premiums used to cover the risk insured and costs involved is treated as premium income.
unrecognized gAins/losses Amount of actuarial gains or losses, in connection with defined benefit pension plans, which are not yet recognized as income or expenses (see also
unrecognized pAst service cost Present value of increases in pension benefits relating to previous years’ service, not yet recognized in the pension reserve.
us gAAp Generally Accepted Accounting Principles in the United States of America.
Climate change 109ff. Combined ratio 132 Conglomerate solvency 124ff., 166ff. Corporate and Other 125ff., 152ff., 160, 173 Corporate governance and declaration 43ff., 69ff.
Economic environment 122 Employees 96ff., 118ff. Executive remuneration below the Board of Management 85ff. Executive summary 125
General Meeting 58, 130 Germany 96, 134ff. Global Insurance Lines & Anglo Markets 102ff.
Management’s assessment of 2012 results 125 Management’s views on future challenges and opportunities 161ff. Market positions 95ff., 107 Media expenses 111 Microinsurance 104, 112ff., 162ff. Mobile services 111 Multi-year review cover
Products and services 93ff. Property-Casualty 125ff., 132ff., 158ff., 170ff. Publication date Cover
Shareholder structure 57 Shareholders’ equity 166 Latin America 100f., 133, 142 sovereign debt crisis 122ff., 125ff., 155ff., 169
Index of Tables and Graphs Cover pages 001 Annual results 002 Gross premiums written 003 Statutory premiums 004 Third-party assets under management a – To our invesTors A 001 Development of the Allianz share price versus EURO STOXX 50 and STOXX Europe 600 Insurance 54
A 002 Analysts’ recommendations 55 A 003 Allianz share performance in comparison 55 A 004 Share price development against
B – CorporaTe governanCe B 001 Board Committees 64 B 002 Group Committees 64 B 003 Supervisory Board Committees 66 B 004 Objectives of the Supervisory Board regarding its composition 67 B 005 Declaration of conformity with the
B 014 Pension contributions 85 B 015 Key features of senior executives 2012 target remuneration 87 B 016 Committee-related remuneration 88
C – group ManageMenT reporT C 001 Selected product range Property-
Asset Management 94 C 003 Market positions of our business operations 95 C 004 Insurance German Speaking
Europe 97 C 006 Insurance Iberia & Latin America 100 C 007 Insurance USA 101 C 008 Global Insurance Lines & Anglo
Markets 102 C 009 Insurance Growth Markets 104 C 010 The four pillars of our strategy 106 C 011 Our strategic goals 107 C 012 Members of the Board of Management and their responsibilities in 2012 and 2013 108
C 013 Awards & recognitions 109 C 014 Customers by region/country 112 C 015 Microinsurance key figures 113 C 016 Renewable energy 114 C 017 Environmental footprint 116 C 018 Environmental footprint 117
C 020 Training key figures 119 C 021 Tenure by region in years 120 C 022 Further employee figures 120 C 023 Operating profit Allianz Group 124 C 024 Key figures Allianz Group 124 C 025 Total revenues – Segments 126 C 026 Operating profit – Segments 126 C 027 Net income 128 C 028 Earnings per share 128 C 029 Total revenues and reconciliation of operating profit (loss) to net income (loss) 129
C 030 Operating profit Property-Casualty 132 C 031 Key figures Property-Casualty 132 C 032 Gross premiums written by region/country 133 C 033 Gross premiums written by operating entity – Internal growth rates 133 C 034 Operating profit 134 C 035 Underwriting result 135 C 036 Operating investment income 136 C 037 Other result 136 C 038 Property-Casualty segment information 137 C 039 Property-Casualty insurance operations by business divisions 138 C 040 Operating profit Life/Health 140 C 041 Key figures Life/Health 140 C 042 Statutory premiums by region/
country 141 C 043 Statutory premiums – Internal growth rates in selected markets 141 C 044 Life/Health segment information 144
C 047 Key figures Asset Management 148 C 048 Development of total assets under management 149 C 049 Third-party assets under management by business unit 149 C 050 Third-party assets under management by region/country 150 C 051 Three-year rolling investment performance of PIMCO and AllianzGI 150 C 052 Asset Management segment information 151 C 053 Key figures Corporate & Other 152 C 054 Key figures Corporate & Other –
In detail 152 C 055 2012 results versus previous year outlook
C 057 Shareholders’ equity 166 C 058 Conglomerate solvency 166 C 059 Interest rates development in 2012 167 C 060 Credit spreads development
losses in Spanish, Greek, Irish, Portuguese and Italian sovereign bonds 169
Fair values 171 C 068 Financial assets for unit-linked contracts 172 C 069 Development of reserves for insurance and investment contracts 172 C 070 Composition of asset base –
Fair values 173 C 071 Capital authorizations of Allianz SE 176 C 072 Maturity structure of Allianz SE’s senior and subordinated bonds as of 31 Decem-
C 073 Senior and subordinated bonds issued or guaranteed by Allianz SE 177
C 074 Issuances and redemptions of Allianz SE’s senior and subordinated bonds 177
C 075 Currency allocation of Allianz SE’s senior and subordinated bonds 178
C 077 Allianz SE bonds outstanding as of 31 December 2012 and interest expenses in 2012 179
C 078 Change in cash and cash equivalents for the years ended 31 December 180
C 079 Cash and cash equivalents 181 C 080 Composition of total revenues 182
C 081 Reconciliation of nominal total revenue growth to internal total revenue growth 183
C 082 Conglomerate solvency 186 C 083 Insurer financial strength ratings of Allianz SE 186 C 084 Ratings of Allianz SE 187 C 085 Available capital and internal risk capital 187 C 086 Allocated internal risk capital (total portfolio before non-controlling interests ) as of 31 December 2012 [31 December 2011] 188
C 089 Group-diversified allocated internal risk capital by risk category and business segment (total portfolio before noncontrolling interests) 194
C 090 Group-diversified internal risk capital by risk category (total portfolio before tax and non-controlling interests) 196
C 096 Fixed income investments by rating class as of 31 December 2012 – Fair values 201
C 097 Reinsurance recoverables by rating class as of 31 December 2012 202
D 007 Interest rate assumptions 239 D 008 Participation in profits by policyholders 239 D 009 Further amendments and interpretations 250 D 010 Scope of consolidation 251 D 011 Significant acquisitions 252 D 012 Mensura – Major classes of assets acquired and liabilities assumed 252 D 013 Mensura – Impact on the consolidated statement of cash flows 253 D 014 Gan Eurocourtage – Major classes of assets acquired and liabilities assumed 253
D 017 Europensiones + Popular Gestion – Major classes of assets acquired and liabilities assumed 254
D 018 Europensiones + Popular Gestion – Impact on the consolidated statement of cash flows 255
D 022 manroland – Impact on the consolidated statement of cash flows 256
D 023 Alba + Phenix – Impact on the consolidated statement of cash flows 256
D 024 Allianz Bank Zrt. – Impact on the consolidated statement of cash flows 257
D 036 Available-for-sale investments 273 D 037 Held-to-maturity investments 273 D 038 Unrealized losses on available-for-sale investments and held-to-maturity investments 274
D 045 Reconciliation of allowances for credit losses by class of financial assets 278
D 046 Impaired loans 278 D 047 Reinsurance assets 278 D 048 Changes in aggregate policy reserves ceded to reinsurers 278 D 049 Deferred acquisition costs 279 D 050 Changes in deferred acquisition costs 279 D 051 Present value of future profits 279 D 052 Deferred sales inducements 280 D 053 Other assets 280 D 054 Real estate held for own use 281
Investments 282 D 058 Non-current assets and assets of disposal groups classified as held for sale 282 D 059 Intangible assets 282
D 061 Allocation of carrying amounts of goodwill and brand names to CGU 284 D 062 Discount rate and eternal growth rate for the CGU in the Property-Casualty segment 285
D 063 Reference rate and risk discount rate for the CGU in the Life/Health segment 286
D 064 Financial liabilities carried at fair value through income 288
D 068 Unearned premiums 289 D 069 Reserves for loss and loss adjustment expenses 289 D 070 Change in reserves for loss and loss adjustment expenses 290 D 071 Loss payments for the individual accident years (per calendar year, net) 291 D 072 Reserves for loss and loss adjustment expenses for the individual accident years at the respective reporting date (net) 291
D 073 Ultimate loss for the individual accident years at the respective reporting date (net) 292
D 075 Development of reserves for loss and loss adjustment expenses 294
D 079 Gross and net reserves for loss and LAE for A&E claims 299
D 080 Change in A&E gross reserves for loss and loss adjustment expenses 299
D 085 Reserves for premium refunds 301 D 086 Summary of insurance risk in the
D 138 Assumptions of RSU plans 345 D 139 Assumptions of AEI plans 346 D 140 Assumptions of Class M-Unit plan 347 D 141 Reconciliation of outstanding