Please activate JavaScript!
Please install Adobe Flash Player, click here for download

Allianz Annual Report 2013

Annual Report 2013    Allianz Group 85 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 Corporate and Other Operating loss decreased by € 110 mn to € 1,004 mn, driven by Holding & Treasury. Business segment overview Corporate and Other encompasses the reportable segments Holding & Treasury, Banking and Alternative Invest­ments. Hold­ ing & Treasury includes the management of and support for ­Allianz Group’s businesses through its strategy, risk, corporate finance, treasury, financial reporting, controlling, communica­ tion, legal, human resources and technology functions. Our banking products offered in Germany, Italy, France, the Nether­ landsandBulgariacomplementourinsuranceproductport­folio. We also provide global alternative investment management services in the private equity, real estate, renewable energy and infrastructure sectors, mainly on behalf of the ­Allianz Group. Key figures Key figures Corporate and Other1 € mn 2013 2012 Operating revenues 1,631 1,632 Operating expenses 2,3 (2,635) (2,746) Operating result 2,3 (1,004) (1,114) Net income (loss) 2 (1,334) (1,854) Key figures Reportable segments € mn 2013 2012 Holding & Treasury Operating revenues 362 286 Operating expenses 2,3 (1,301) (1,387) Operating result 2,3 (939) (1,101) Banking Operating revenues 1,096 1,189 Operating expenses 2,3 (1,187) (1,223) Operating result 2,3 (91) (34) Alternative Investments Operating revenues 175 169 Operating expenses 2,3 (151) (147) Operating result 2,3 24 22 1 Consolidation included. For further information about our Corporate and Other business segment, please refer to note 6 to the consolidated financial statements. 2 Prior year figures have been restated to reflect the retrospective application of the amended standard IAS 19 – Employee Benefits, effective as of 1 January 2013. For further information, please refer to note 4 to the consolidated financial statements. 3 As of 1 January 2013, all restructuring charges are presented within operating profit and all prior year figures have been adjusted to conform to the current accounting presentation.

Pages Overview