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Allianz Annual Report 2013

Annual Report 2013    Allianz Group128 Consolidated income statements consolidated income statements € mn Note 2013 2012 Gross premiums written 72,051 72,086 Ceded premiums written (4,541) (5,336) Change in unearned premiums (882) (705) Premiums earned (net) 26 66,628 66,045 Interest and similar income 27 20,918 21,084 Income from financial assets and liabilities carried at fair value through income (net) 28 (1,842) (511) Realized gains/losses (net) 29 4,285 4,327 Fee and commission income 30 10,492 9,812 Other income 31 209 214 Income from fully consolidated private equity investments 32 726 788 Total income 101,416 101,759 Claims and insurance benefits incurred (gross) (50,178) (51,744) Claims and insurance benefits incurred (ceded) 2,376 2,871 Claims and insurance benefits incurred (net) 33 (47,802) (48,873) Change in reserves for insurance and investment contracts (net) 34 (13,990) (14,360) Interest expenses 35 (1,322) (1,477) Loan loss provisions 36 (86) (111) Impairments of investments (net) 37 (611) (934) Investment expenses 38 (905) (876) Acquisition and administrative expenses (net) 39 (22,865) (22,046) Fee and commission expenses 40 (3,038) (2,895) Amortization of intangible assets 15 (136) (259) Restructuring charges 49 (170) (268) Other expenses 41 (106) (94) Expenses from fully consolidated private equity investments 32 (741) (847) Total expenses (91,772) (93,040) Income before income taxes 9,644 8,719 Income taxes 42 (3,300) (3,161) Net income 6,344 5,558 Net income attributable to: Non-controlling interests 348 327 Shareholders 5,996 5,231 Basic earnings per share (€) 50 13.23 11.56 Diluted earnings per share (€) 50 13.05 11.48

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