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Allianz Annual Report 2012

Business Segment Information – Total revenues and reconciliation of Operating profit (loss) to Net income (loss) Business Segment Information – Total revenues and reconciliation of Operating profit (loss) to Net income (loss) € mn Property-Casualty Life/Health 2012 2011 2010 2012 2011 2010 Total revenues 1 46,889 44,772 43,895 52,347 52,863 57,098 Premiums earned (net) 41,705 39,898 39,303 24,393 23,770 24,034 Operating investment result Interest and similar income 3,770 3,771 3,680 16,832 16,107 15,085 Operating income from financial assets and liabilities carried at fair value through income (net) (46) 48 18 (727) (866) 19 Operating realized gains/losses (net) 168 21 42 3,044 2,188 2,125 Interest expenses, excluding interest expenses from external debt (47) (54) (92) (84) (108) (103) Operating impairments of investments (net) (17) (46) (9) (428) (1,684) (434) Investment expenses (307) (236) (240) (759) (745) (704) Subtotal 3,521 3,504 3,399 17,878 14,892 15,988 Fee and commission income 1,165 1,154 1,099 534 538 539 Other income 35 31 22 154 99 81 Claims and insurance benefits incurred (net) (28,492) (27,920) (27,141) (20,386) (20,947) (18,955) Change in reserves for insurance and investment contracts (net) 2 (430) (272) (300) (13,970) (10,618) (13,329) Loan loss provisions – – – – – 6 Acquisition and administrative expenses (net), excluding acquisition-related expenses (11,673) (11,115) (11,044) (5,316) (5,027) (5,175) Fee and commission expenses (1,089) (1,070) (1,024) (228) (210) (258) Operating restructuring charges – – – (16) (1) (8) Other expenses (23) (14) (10) (88) (76) (55) Reclassification of tax benefits – – – – – – Operating profit (loss) 4,719 4,196 4,304 2,955 2,420 2,868 Non-operating investment result Non-operating income from financial assets and liabilities carried at fair value through income (net) (80) (52) (64) 13 (24) (40) Non-operating realized gains/losses (net) 671 562 605 132 3 36 Non-operating impairments of investments (net) (232) (452) (191) (49) (291) (47) Subtotal 359 58 350 96 (312) (51) Income from fully consolidated private equity investments (net) – (3) – – – – Interest expenses from external debt – – – – – – Acquisition-related expenses – – – – – – Amortization of intangible assets (31) (107) (156) (4) (155) (3) Non-operating restructuring charges (146) (127) (178) (11) (21) (31) Reclassification of tax benefits – – – – – – Non-operating items 182 (179) 16 81 (488) (85) Income (loss) before income taxes 4,901 4,017 4,320 3,036 1,932 2,783 Income taxes (1,430) (1,205) (1,216) (1,001) (734) (934) Net income (loss) 3,471 2,812 3,104 2,035 1,198 1,849 Net income (loss) attributable to: Non-controlling interests 174 174 161 84 74 72 Shareholders 3,297 2,638 2,943 1,951 1,124 1,777 1 Total revenues comprise statutory gross premiums written in Property-Casualty and Life/ Health, operating revenues in Asset Management and total revenues in Corporate and Other (Banking). 2 In 2012 includes expenses for premium refunds (net) in Property-Casualty of € (292) mn (2011: € (110) mn; 2010: € (181) mn). Annual Report 2012    Allianz Group262

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