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Allianz Annual Report 2012

Annual Report 2012    Allianz Group Corporate and Other Operating loss increased by € 231 mn to € 1,128 mn, driven by Holding & Treasury. Segment overview Corporate and Other encompasses the operations of Holding & Treasury, Banking and Alternative Invest­ ments. Holding & Treasury includes the management and support of the ­Allianz Group’s businesses through its strategy, risk, corporate finance, treasury, financial reporting, controlling, communication, legal, human resources and technology functions. Our banking prod­ ucts offered in Germany, Italy, France, the Netherlands and Bulgaria complement our insurance product port­ folio. 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. Earnings summary Our operating result worsened by € 231 mn to € (1,128)  mn. Thiswasdrivenbythe€ 291 mndecreaseinHolding & ­Treasury. The reduction of our operating loss in Banking by € 34 mn and the € 27 mn higher operating result in Alternative Investments were not able to offset the deterioration in Holding & Treasury. Key figures Key figures Corporate & Other C 053 € mn 2012 2011 2010 Operating revenues 1,632 1,776 1,702 Operating expenses (2,760) (2,673) (2,644) Operating result (1,128) (897) (942) Key figures Corporate & Other – in detail1 C 054 € mn 2012 2011 2010 Holding & Treasury Operating revenues 286 478 450 Operating expenses (1,401) (1,302) (1,313) Operating result (1,115) (824) (863) Banking Operating revenues 1,189 1,162 1,129 Operating expenses (1,223) (1,230) (1,193) Operating result (34) (68) (64) Alternative Investments Operating revenues 169 148 134 Operating expenses (147) (153) (149) Operating result 22 (5) (15) 1 Consolidation included. For further information about our Corporate and Other segment, please refer to note 6 to the consolidated financial statements. Banking figures include loan loss provisions in operating expenses. 152

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