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Allianz Annual Report 2012

Annual Report 2012    Allianz Group Reportable segments – Life/Health Reportable segments – Life/Health € mn German Speaking Countries Western & Southern Europe Iberia & Latin America 2012 2011 2010 2012 2011 2010 2012 2011 2010 Statutory premiums 1 20,758 21,004 21,070 16,897 16,462 18,590 1,520 1,377 1,276 Ceded premiums written (161) (176) (187) (1,102) (436) (329) (30) (49) (27) Change in unearned premiums (194) (183) (57) 45 30 39 – – (1) Statutory premiums (net) 20,403 20,645 20,826 15,840 16,056 18,300 1,490 1,328 1,248 Deposits from insurance and investment contracts (4,879) (5,246) (5,095) (11,572) (11,691) (13,875) (786) (760) (689) Premiums earned (net) 15,524 15,399 15,731 4,268 4,365 4,425 704 568 559 Interest and similar income 8,782 8,388 7,848 3,999 4,038 3,814 370 355 331 Operating income from financial assets and liabilities carried at fair value through income (net) 48 172 148 (50) (127) 65 22 2 4 Operating realized gains/losses (net) 2,277 1,464 1,331 587 544 593 (38) 1 4 Fee and commission income 44 40 30 350 366 405 6 4 5 Other income 134 94 65 20 5 2 – – – Operating revenues 26,809 25,557 25,153 9,174 9,191 9,304 1,064 930 903 Claims and insurance benefits incurred (net) (13,942) (14,944) (12,974) (3,804) (3,691) (3,908) (595) (571) (603) Changes in reserves for insurance and investment contracts (net) (9,277) (6,378) (8,640) (2,377) (1,880) (2,249) (127) (33) 7 Interest expenses (97) (119) (114) (27) (39) (33) (3) (3) (2) Loan loss provisions – – (3) – – – – – – Operating impairments of investments (net)  (231) (914) (274) (193) (762) (150) – (1) (1) Investment expenses (512) (470) (422) (179) (202) (199) (7) (6) (7) Acquisition and administrative expenses (net) (1,303) (1,524) (1,381) (1,677) (1,698) (1,715) (207) (158) (149) Fee and commission expenses (18) (17) (30) (171) (161) (194) (1) (1) – Operating restructuring charges (16) (1) (8) – – – – – – Other expenses (78) (72) (51) (10) (4) (2) – – – Operating expenses (25,474) (24,439) (23,897) (8,438) (8,437) (8,450) (940) (773) (755) Operating profit 1,335 1,118 1,256 736 754 854 124 157 148 Margin on reserves 2 in basis points 64 57 68 57 61 70 173 235 226 1 Statutory premiums are gross premiums written from sales of life and health insur- ance policies, as well as gross receipts from sales of unit-linked and other investment- oriented products, in accordance with the statutory accounting practices applicable in the insurer’s home jurisdiction. 2 Represents operating profit divided by the average of the current and previous year- end net reserves, whereby net reserves equal reserves for loss and loss adjustment expenses, reserves for insurance and investment contracts and financial liabilities for unit-linked contracts less reinsurance assets. 3 Presentation not meaningful. 266

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