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Allianz Annual Report 2013

Annual Report 2013    Allianz Group76 Property-Casualty insurance operations by reportable segments Property-Casualty insurance operations by reportable segments € mn Gross premiums written Premiums earned (net) Operating profit (loss)   internal  1 2013 2012 2013 2012 2013 2012 2013 2012 Germany 2  9,261 9,158 9,261 9,115 7,611 7,421 661 828 Switzerland  1,489 1,501 1,518 1,501 1,422 1,450 194 192 Austria 966 938 966 938 814 788 62 76 German Speaking Countries 3 11,748 11,630 11,777 11,587 9,861 9,674 916 1,102 Italy  4,032 4,045 4,032 4,045 3,950 3,893 1,126 881 France 4 4,174 3,538 3,557 3,538 3,804 3,200 401 411 The Netherlands  700 714 700 705 659 684 27 15 Turkey 5 978 611 838 611 753 412 69 34 Belgium 6 465 397 374 364 427 355 50 62 Greece 111 108 111 108 87 90 17 19 Africa 87 83 87 83 55 49 11 9 Western & Southern Europe 7 10,547 9,496 9,699 9,454 9,735 8,683 1,712 1,447 Latin America 2,350 2,389 2,651 2,388 1,737 1,607 133 126 Spain 1,958 1,953 1,958 1,953 1,804 1,810 236 239 Portugal  312 317 312 317 269 265 26 38 Iberia & Latin America 4,620 4,659 4,921 4,658 3,810 3,682 395 403 United States  2,058 3,550 2,141 3,550 1,988 2,654 154 (546) USA 8 2,058 3,550 2,141 3,550 1,988 2,654 154 (546) ­­Allianz Global Corporate & Specialty 4,999 5,314 5,063 5,314 2,926 3,299 427 415 Reinsurance PC 2 3,345 3,460 3,305 3,460 2,880 3,124 317 357 Australia 2,847 3,018 3,158 3,018 2,235 2,235 378 394 United Kingdom 2,274 2,318 2,382 2,318 2,122 2,165 201 215 Credit Insurance 2,092 2,034 2,043 1,998 1,435 1,344 407 409 Ireland   412 433 412 433 372 397 62 69 Global Insurance Lines & Anglo Markets 9 15,969 16,577 16,363 16,541 11,970 12,564 1,785 1,854 Russia 808 678 857 678 598 603 (38) – Poland 427 421 428 421 345 355 12 14 Hungary 268 307 274 307 230 233 27 27 Slovakia 321 336 321 336 266 273 53 70 Czech Republic 276 280 285 280 228 225 44 32 Romania 186 181 185 181 150 143 5 – Bulgaria 82 90 82 90 63 66 19 17 Croatia 93 90 94 90 77 75 13 15 Ukraine 16 13 17 13 7 7 – 3 Central and Eastern Europe 10 2,477 2,393 2,544 2,393 1,964 1,980 127 171 Asia-Pacific  667 596 702 596 377 320 67 56 Middle East and North Africa 67 68 73 68 46 48 8 5 Growth Markets 3,211 3,057 3,319 3,057 2,387 2,348 202 232 ­Allianz Global Assistance 1,972 1,800 1,980 1,800 1,842 1,745 96 99 ­Allianz Worldwide Care   452 384 452 384 419 355 30 24 Allianz Worldwide Partners 11 2,507 2,186 2,515 2,230 2,296 2,100 102 122 Consolidation and Other 12 (4,081) (4,266) (4,041) (4,224) – – 2 – Total 46,579 46,889 46,694 46,853 42,047 41,705 5,268 4,614 1 This reflects gross premiums written on an internal basis, adjusted for foreign currency translation and (de-)consolidation effects. 2 The combined ratio 2013 at Germany and Reinsurance PC was impacted by a one-off effect related to the commutation of internal reinsurance resulting in a 0.9 percentage point improvement in the combined ratio for Germany and an increase of 2.3 percentage points in Reinsurance PC. This had no impact at Group level. 3 Includes “Münchener und Magdeburger Agrarversicherung AG” with gross premiums written of € 32  mn, premiums earned (net) of € 14  mn and operating loss of € 1  mn for 2013, and gross premiums written of € 33  mn, premiums earned (net) of € 15  mn and operating profit of € 6  mn for 2012. 4 Effective as of 1 October 2012, Allianz France acquired the property-casualty brokerage portfolio-related activities (excluding transport) of Gan Eurocourtage. 5 On 12 July 2013, Allianz Turkey acquired Yapı Kredi Bank’s shareholding in the Turkish property-casualty insurance company Yapı Kredi Sigorta. 6 Effective as of 1 August 2012, Allianz Belgium acquired the assets and assumed the liabilities related to the insurance activities of Mensura. 7 Contains € 11  mn and € 16  mn operating profit for 2013 and 2012, respectively, from a management holding located in Luxembourg.

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