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Allianz Annual Report 2012

Reportable segments – Property-Casualty Reportable segments – Property-Casualty € mn German Speaking Countries 1 Western & Southern Europe 2, 3 2012 2011 2010 2012 2011 2010 Gross premiums written 11,630 11,328 11,292 9,496 9,158 9,227 Ceded premiums written (1,955) (1,892) (1,956) (655) (638) (740) Change in unearned premiums (1) 34 18 (158) (51) 73 Premiums earned (net) 9,674 9,470 9,354 8,683 8,469 8,560 Interest and similar income 1,197 1,216 1,180 868 908 866 Operating income from financial assets and liabilities carried at fair value through income (net) (4) (8) 28 5 7 1 Operating realized gains/losses (net) 168 21 42 – – – Fee and commission income 147 152 131 20 22 31 Other income 29 25 12 4 2 1 Operating revenues 11,211 10,876 10,747 9,580 9,408 9,459 Claims and insurance benefits incurred (net) (6,704) (7,023) (6,838) (5,642) (5,862) (6,301) Change in reserves for insurance and investment contracts (net) (385) (229) (280) – – – Interest expenses (76) (73) (79) (9) (10) (48) Operating impairments of investments (net)  (17) (46) (9) – – – Investment expenses (96) (87) (89) (86) (83) (82) Acquisition and administrative expenses (net) (2,590) (2,546) (2,475) (2,333) (2,266) (2,301) Fee and commission expenses (148) (150) (125) (34) (29) (29) Other expenses (18) (12) (9) (4) (2) – Operating expenses (10,034) (10,166) (9,904) (8,108) (8,252) (8,761) Operating profit (loss) 1,177 710 843 1,472 1,156 698 Loss ratio 6 in % 69.3 74.1 73.1 64.9 69.2 73.6 Expense ratio 7 in % 26.8 26.9 26.5 26.9 26.8 26.9 Combined ratio 8 in % 96.1 101.0 99.6 91.8 96.0 100.5 1 In 2012, Münchener und Magdeburger Agrarversicherung AG was transferred from Consoli- dation and Other to German Speaking Countries. Prior year figures have not been adjusted. 2 From 2012 on, AGF UK is shown in Global Insurance Lines & Anglo Markets instead of Western & Southern Europe. Prior year figures have been adjusted. 3 The reserve strengthening for asbestos risks in 2012 at Fireman’s Fund Insurance Company of € 71 mn had no impact on the financial results of the Allianz Group and Fireman’s Fund’s combined ratio under IFRS. The reserve strengthening for asbestos risks in 2011 at Allianz S.p.A., at Fireman’s Fund Insurance Company and at AGCS of in total € 153 mn had no impact on the financial results of the Allianz Group and the single entities’ combined ratio under IFRS. 4 From the third quarter of 2012 on, Allianz Worldwide Care is shown in Global Assistance instead of Global Insurance Lines & Anglo Markets. Prior year figures have been adjusted. 5 The 2011 analysis of the Allianz Group’s asbestos risks resulted in a reduction of reserves and a positive run-off result of € 130 mn, which is included in claims and insurance benefits incurred (net) within Consolidation and Other. 6 Represents claims and insurance benefits incurred (net) divided by premiums earned (net). 7 Represents acquisition and administrative expenses (net) divided by premiums earned (net). 8 Represents the total of acquisition and administrative expenses (net) and claims and insur- ance benefits incurred (net) divided by premiums earned (net). 9 Presentation not meaningful. Annual Report 2012    Allianz Group264

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