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Allianz Annual Report 2013

2013 Additions of 2013 mainly include goodwill from the acquisition of 93.94 % in Yapı Kredi Sigorta A.Ş., Istanbul. The allocated goodwill of the Cash Generating Unit (CGU)Selecta AG was impaired by € 96 MN in the business segment Corporate and Other. This impairment was triggered by a slower recovery of Selecta’s major European vending markets and lower multiples. 2012 Additions of 2012 mainly include goodwill from the acquisition relat- ing to the brokerage portfolio of Gan Eurocourtage S.A., Paris. The allocated goodwill of the CGU Selecta AG was impaired by € 89 mn in the business segment Corporate and Other. This impair- ment was triggered by lower expectations regarding future economic developments of Selecta’s core markets and lower multiples. Brand names The position brand names consists primarily of the brand name “Selecta”. The brand name “Selecta” has an indefinite life, as there is no foreseeable end to its economic life. The fair value of this brand name, registered as a trade name, was determined using a royalty savings approach. Due to the rebranding activities of the ­Allianz Group in the Rus- sianmarket,thebrandnameoftheRussianPeople’sInsuranceSociety “Rosno” was amortized by € 5 mn in 2013. The brand name will be com- pletely amortized over the next two years. Impairment test for goodwill and intangible assets with indefinite useful lives Allocation principles For the purpose of impairment testing, the ­Allianz Group has allo- cated goodwill to CGU1. These CGU represent the lowest level at which goodwill is monitored for internal management purposes. CGU in the Property-Casualty business segment are: −− German Speaking Countries, −− Insurance Western & Southern Europe including France, the Netherlands, Turkey, Belgium, Italy, Greece, Luxembourg and Africa, −− Iberia & Latin America including South America, Mexico, Portu- gal and Spain, −− Asia-Pacific and Middle East, −− Central and Eastern Europe including Bulgaria, Croatia, the Czech Republic, Hungary, Slovakia, Poland, Romania, Ukraine and Russia, −− Global Insurance Lines & Anglo Markets including United Kingdom, Ireland and Australia, −− Specialty Lines I including ­Allianz SE Re, ­Allianz Global Corporate & Specialty, ART and Credit Insurance, −− Specialty Lines II including Travel Insurance and Assistance Services. CGU in the Life/Health business segment are: −− German Speaking Countries, −− Health Germany, −− Insurance Western & Southern Europe including France, the Netherlands, Turkey, Belgium, Italy, Greece, Luxembourg and Africa, −− Asia-Pacific and Middle East, −− Insurance USA. The business segment Asset Management is represented by the CGU Asset Management. The CGU in the Corporate and Other business segment consists of Selecta AG. 1 The following paragraphs include all CGU that contain 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 177

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