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Allianz Annual Report 2013

Annual Report 2013    Allianz Group 81 C Group Management Report Management Discussion and Analysis 64 Business Environment 66 Executive Summary of 2013 Results 71 Property-Casualty Insurance Operations 78 Life/Health Insurance Operations 82 Asset Management 85 Corporate and Other 87 Outlook 2014 92 Balance Sheet Review 99 Liquidity and Funding Resources 104 Reconciliations Life/Health insurance operations by reportable segments  Life/Health insurance operations by reportable segments € mn Statutory premiums 1 Premiums earned (net) Operating profit (loss) Margin on reserves 2 (BPS)   internal  3 2013 2012 2013 2012 2013 2012 2013 2012 2013 2012 Germany Life  17,000 15,179 17,000 15,179 11,538 11,282 862 1,026 48 61 Germany Health  3,264 3,269 3,264 3,269 3,264 3,268 201 197 80 83 Switzerland 1,602 1,903 1,634 1,903 488 686 78 79 60 62 Austria 385 407 385 407 282 288 33 31 77 78 German Speaking Countries 22,251 20,758 22,283 20,758 15,572 15,524 1,174 1,333 53 64 Italy 8,430 6,364 8,430 6,364 483 543 216 237 45 54 France 8,511 7,977 8,511 7,977 3,401 3,056 421 353 56 50 Belgium/Luxembourg 2,049 2,019 2,049 2,019 400 416 61 64 59 69 The Netherlands 277 276 277 276 140 135 28 58 66 144 Greece 90 95 90 95 53 57 2 5 65 158 Turkey 4 419 114 184 114 81 37 3 5 25 110 Africa 54 52 54 52 25 24 4 5 185 238 Western & Southern Europe 19,830 16,897 19,595 16,897 4,583 4,268 735 727 53 57 Latin America 329 255 334 255 145 123 9 11 109 158 Spain 1,225 1,075 1,225 1,075 457 495 128 107 196 177 Portugal 232 190 232 190 83 86 21 5 403 111 Iberia & Latin America 1,786 1,520 1,791 1,520 685 704 158 123 201 171 United States 7,317 7,289 7,571 7,289 883 848 487 457 70 69 USA 7,317 7,289 7,571 7,289 883 848 487 457 70 69 Reinsurance LH 515 484 515 484 430 425 23 47 111 208 Global Insurance Lines & Anglo Markets  515 484 515 484 430 425 23 47 111 208 South Korea 1,354 1,871 1,357 1,871 494 580 (129) 31 (130) 33 Taiwan 1,745 1,352 1,810 1,352 152 129 – 9 – 18 Indonesia 686 760 789 760 247 305 60 54 505 454 Malaysia 381 330 403 330 200 211 18 17 167 174 Japan – 1 – 1 6 5 7 3 39 13 Other 926 789 945 789 636 622 80 49 230 140 Asia-Pacific 5,092 5,103 5,304 5,103 1,735 1,852 36 163 16 73 Poland 127 411 127 411 40 125 16 17 270 298 Slovakia 245 244 245 244 209 206 29 32 243 267 Hungary 165 147 168 147 46 53 9 4 244 115 Czech Republic 172 171 178 171 77 66 17 20 303 377 Russia 84 94 90 94 83 90 – (3) – (185) Croatia 62 55 63 55 61 52 4 3 132 125 Bulgaria 35 31 35 31 30 27 4 7 302 541 Romania 23 23 23 23 14 13 1 1 221 213 Central and Eastern Europe 5 913 1,176 929 1,176 560 632 78 79 228 247 Middle East and North Africa 163 170 185 170 131 139 17 15 304 300 Global Life  6 4 6 4 2 1 – (1) –6 –6 Growth Markets 6,174 6,453 6,424 6,453 2,428 2,624 131 256 49 99 Consolidation 7 (1,089) (1,054) (1,091) (1,054) – – 1 – –6 –6 Total 56,784 52,347 57,088 52,347 24,581 24,393 2,709 2,943 58 67 1 Statutory premiums are gross premiums written from sales of life and health insurance policies, as well as gross receipts from sales of unit-linked and other investment-oriented products, in accordance with the statutory accounting practices applicable in the insurer’s home jurisdiction. 2 Represents operating profit (loss) divided by the average of the current and previous year-end net reserves, where net reserves equal reserves for loss and loss adjustment expenses, reserves for insurance and invest- ment contracts and financial liabilities for unit-linked contracts less reinsurance assets. 3 Statutory premiums adjusted for foreign currency translation and (de-)consolidation effects. 4 On12July2013,AllianzacquiredYapıKrediBank’s93.94 %shareholdingintheTurkishproperty-casualtyinsur- ance company Yapı Kredi Sigorta, including its life and pension insurance subsidiary Yapı Kredi Emeklilik. 5 Contains income and expense items from a management holding and consolidations between countries in this region. 6 Presentation not meaningful. 7 Represents elimination of transactions between ­Allianz Group companies in different geographic regions.

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