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Allianz Annual Report 2012

Annual Report 2012    Allianz Group D 029 Global Assistance 4 Consolidation and Other 1, 5 Property-Casualty 2012 2011 2010 2012 2011 2010 2012 2011 2010 Gross premiums written 2,186 1,988 1,785 (4,266) (3,958) (3,891) 46,889 44,772 43,895 Ceded premiums written (43) (22) (16) 4,266 3,971 3,903 (4,727) (4,552) (4,346) Change in unearned premiums (43) (102) (62) – – – (457) (322) (246) Premiums earned (net) 2,100 1,864 1,707 – 13 12 41,705 39,898 39,303 Interest and similar income 34 33 27 (71) (70) (80) 3,770 3,771 3,680 Operating income from financial assets and liabilities carried at fair value through income (net) (1) 1 (2) – 1 2 (46) 48 18 Operating realized gains/losses (net) – – – – – – 168 21 42 Fee and commission income 433 367 358 (79) (75) (65) 1,165 1,154 1,099 Other income – 2 – – (2) – 35 31 22 Operating revenues 2,566 2,267 2,090 (150) (133) (131) 46,797 44,923 44,164 Claims and insurance benefits incurred (net) (1,305) (1,164) (1,052) – 119 (9) (28,492) (27,920) (27,141) Change in reserves for insurance and investment contracts (net) 1 – – – – – (430) (272) (300) Interest expenses (1) – (1) 71 70 81 (47) (54) (92) Operating impairments of investments (net)  – – – – – – (17) (46) (9) Investment expenses (4) (1) (1) – 3 1 (307) (236) (240) Acquisition and administrative expenses (net) (690) (627) (581) 15 3 (1) (11,673) (11,115) (11,044) Fee and commission expenses (432) (367) (347) 64 65 59 (1,089) (1,070) (1,024) Other expenses – – – – – – (23) (14) (10) Operating expenses (2,431) (2,159) (1,982) 150 260 131 (42,078) (40,727) (39,860) Operating profit 135 108 108 – 127 – 4,719 4,196 4,304 Loss ratio 6 in % 62.1 62.5 61.7 –9 –9 –9 68.3 69.9 69.1 Expense ratio 7 in % 32.9 33.6 34.0 – 9 – 9 –9 28.0 27.9 28.1 Combined ratio 8 in % 95.0 96.1 95.7 –9 –9 –9 96.3 97.8 97.2 D Consolidated Financial Statements 219 Consolidated Balance Sheets 220 Consolidated Income Statements 221 Consolidated Statements of Comprehensive Income 222 Consolidated Statements of Changes in Equity 223 Consolidated Statements of Cash Flows 226 Notes to the Consolidated Financial Statements 265

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