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Allianz Annual Report 2012

Annual Report 2012    Allianz Group130 Proposal for appropriation of profit The Board of Management and the Supervisory Board pro- pose that the available net earnings (“Bilanzgewinn”) of ­Allianz SE of € 2,312,520,269.84 for the 2012 fiscal year shall be appropriated as follows: −− Distribution of a dividend of € 4.50 per no-par share ­entitled to a dividend: € 2,039,354,635.50 −− Unappropriated earnings carried forward: € 273,165,634.34 The proposal for appropriation of net earnings reflects the 2,760,081 treasury shares held directly and indirectly by the Company at the time of the publication of the convocation of the Annual General Meeting in the Federal Gazette. Such treasury shares are not entitled to the dividend pursuant to § 71b of the German Stock Corporation Act (AktG) 1. Should there be any change in the number of shares entitled to the dividend by the date of the Annual General Meeting, the above proposal will be amended accordingly and presented for resolution on the appropriation of net earnings at the Annual General Meeting, with an unchanged dividend of € 4.50 on each share entitled to dividend. Munich, 21 February 2013 Allianz SE 1 The provisions of the German Stock Corporation Act (Aktiengesetz) apply to the Company pursuant to Art. 9 (1) lit. c) ii), Art. 10 of the Council Regulation (EC) No. 2157/2001 dated 8 October 2001 on the Statute for a European company (SE) (hereinafter SE-Regulation or SE-VO), insofar as nothing else is stipulated in special rules of the SE-Regulation. Events after the balance sheet date Allianz Bank ceases business On 24 January 2013, it was announced that ­Allianz Bank is settoceasebusinessoperationson 30 June2013.Thebank’s business activities for employees and agents, as ­Allianz Bank customers, will be continued by Oldenburgische Landesbank AG. As of today, the ­Allianz Group expects that closure-related expenses could approximate € 100  mn. Life insurance distribution agreement in turkey On 28 January 2013, ­Allianz SE and HSBC Bank plc agreed to a 10-year exclusive bancassurance distribution agreement for life insurance in Turkey. ­Allianz life insurance and ­pension products will be distributed by HSBC in Turkey. The upfront cash consideration by ­Allianz amounts to € 23 mn. This local bancassurance agreement, which is subject to regulatory approval, is expected to be completed in the first half of 2013. Allianz Capital Partners (ACP) sells Sdu to Editions Lefebvre Sarrut (ELS) Allianz Capital Partners (ACP) and AAC Capital Partners (AAC) reached an agreement with the French publishing ­company Editions Lefebvre Sarrut (ELS) to sell the Dutch publishing company Sdu. The transaction was completed on 31 January 2013. Sdu was jointly acquired by ACP and AAC in 2007 in a privatization from the Dutch State. The disposal did not have a material effect on ­Allianz Group’s net ­income.