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Allianz Annual Report 2013

15 – Intangible assets Intangible Assets € mn as of 31 December 2013 2012 Intangible assets with indefinite useful lives Goodwill 11,544 11,679 Brand names 1 296 302 Subtotal 11,840 11,981 Intangible assets with finite useful lives Distribution agreements 2 995 826 Customer relationships 3 149 183 Other 4 116 100 Subtotal 1,260 1,109 Total 13,100 13,090 1 Includes primarily the brand name of Selecta AG, Muntelier. 2 Includes primarily the long-term distribution agreements with Commerzbank AG of € 373 mn (2012: € 410  mn), Banco Popular S.A. of € 369  mn (2012: € 386  mn), Yapı Kredi Bank of € 151  mn (2012: € –  mn) and HSBC in Asia and Turkey of € 78  mn (2012: € – mn). 3 Includes primarily customer relationships from the acquisition of Selecta AG of € 118  mn (2012: € 152  mn) and Yapı Kredi Sigorta A.Ş. of € 10  mn (2012: € –  mn). The renewal rights of € 19  mn (2012: € 31  mn), which were acquired in the context of business combinations, were reclassified from the line item “Other” to the line item “Customer relationships”. 4 Includes primarily acquired business portfolios of € 76  mn (2012: € 42  mn) and heritable building rights of € 17  mn (2012: € 15  mn). The other distribution rights of € 17  mn (2012: € 20  mn) and the bancassurance agreements of € 7  mn (2012: € 10  mn) were reclassified from the line item “Other” to the line item “Dis- tribution agreements”. Intangible assets with indefinite useful lives Goodwill Goodwill € mn 2013 2012 Cost as of 1 January 12,573 12,527 Accumulated impairments as of 1 January (894) (805) Carrying amount as of 1 January 11,679 11,722 Additions 226 72 Disposals – – Foreign currency translation adjustments (265) (26) Impairments (96) (89) Carrying amount as of 31 December 11,544 11,679 Accumulated impairments as of 31 December 990 894 Cost as of 31 December 12,534 12,573 Annual Report 2013    Allianz Group176 14 – Non-current assets classified as held for sale Non-current assets classified as held for sale € mn as of 31 December 2013 2012 ­­­Real estate held for investment – 15 Investments in associates and joint ventures 131 – ­­­Real estate held for own use 16 – Total 147 15 As of 31 December 2012, the non-current assets classified as held for sale comprised only real estate held for investment which was sold as expected during the first quarter of 2013. Non-current assets classified as held for sale comprise an invest- ment of € 131  mn in an Italian real estate company. The real estate company is recorded as an associate allocated to the reportable seg- ment Western and Southern Europe (Property-Casualty). The sale of the asset will be completed in 2014. Upon measurement of the non- current asset classified as held for sale at fair value less costs to sell, no significant impairment loss was recognized. Prior to the classifica- tion as non-current asset held for sale, an impairment loss of € 81mn was recognized for the Italian real estate company for the year ended 31 December 2013. Real estate held for own use comprises an office building allo- cated to the reportable segment Asset Management. The sale is expected to be completed during the first quarter of 2014. No impair- ment was recognized for the year ended 31 December 2013.

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