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Allianz Annual Report 2013

Significant acquisitions Significant acquisitions Equity interest Date of initial consolidation Segment Goodwill 1 Transaction % € mn 2013 HSBC Taiwan Life branch, Taipei – 21 June 2013 Life/Health – Acquisition Yapı Kredi Sigorta A.Ş., Istanbul 94.0 12 July 2013 Property-Casualty 222 Acquisition Business portfolios from Pastor Vida S.A. de Seguros y Reaseguros, Madrid – 31 December 2013 Life/Health / Asset Management – Acquisition 2012 Insurance activities of Mensura CCA, Brussels – 1 August 2012 Property-Casualty (3) Acquisition Brokerage portfolio-related activities of Gan Eurocourtage, Paris – 1 October 2012 Property-Casualty 67 Acquisition 1 At the date of initial consolidation. In the following section all significant acquisitions during the year ended 31 December 2013 are described. HSBC Taiwan Life branch On 21 June 2013, the ­Allianz Group acquired the assets and assumed the liabilities of the Taiwan branch of HSBC Life (International) Lim- ited as part of the regional cooperation with HSBC and integrated it into ­Allianz Taiwan. The total consideration paid in cash amounted to € 14  mn. The following table summarizes the consideration transferred and amounts recognized for major classes of identifiable assets acquired and liabilities assumed: HSBC Taiwan Life branch – CONSIDERATION TRANSFERRED AND IDENTIFIABLE ASSETS AND LIABILITIES € mn Fair value Consideration transferred Cash consideration transferred 14 Purchase price adjustment (14) Total consideration transferred – Identifiable assets acquired and liabilities assumed Cash and cash equivalents 6 Investments 69 Loans and advances to banks and customers 3 Financial assets for unit-linked contracts 35 Deferred acquisition costs 15 Reserves for insurance and investment contracts (90) Financial liabilities for unit-linked contracts (35) Deferred tax liabilities (2) Other liabilities (1) Total net identifiable assets – The impact of the acquisition of the HSBC Taiwan Life branch on the total revenues and net income of the ­Allianz Group since the acquisi- tion date, as well as if the acquisition date had been 1 January 2013, was not material. Yapı Kredi Sigorta A.Ş. On 12 July 2013, ­the ­Allianz Group acquired Yapı Kredi Bank’s 93.94 % shareholding in the Turkish property-casualty insurance company Yapı Kredi Sigorta, including its life and pension insurance subsidiary Yapı Kredi Emeklilik. Yapı Kredi Bank ultimately retains a 20 % stake in Yapı Kredi Emeklilik to support the long-term strategic partnership with ­Allianz. This transaction is consistent with the ­Allianz Group’s strategy to access growth through strategic relationships in high- growth insurance markets. The consideration paid, net of proceeds received from the sale of the Yapı Kredi Emeklilik stake to Yapı Kredi Bank, amounted to € 639 MN (TrY 1,603 MN), while the total gross con- sideration paid in cash to Yapı Kredi Bank amounted to € 714 MN (TrY 1,791 MN). For the year ended 31 December 2013, acquisition- related expenses in the amount of approximately € 6 MN were included in administrative expenses. The following two tables summarize the consideration trans- ferred, the recognized amounts of assets acquired and liabilities assumed as well as the determination of goodwill: D Consolidated Financial Statements 127 Consolidated Balance Sheets 128 Consolidated Income Statements 129 Consolidated Statements of Comprehensive Income 130 Consolidated Statements of Changes in Equity 131 Consolidated Statements of Cash Flows 134 Notes to the Consolidated Financial Statements Annual Report 2013    Allianz Group 151

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