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Allianz Annual Report 2012

Available-for-sale investments Available-for-sale investments D 036 € mn as of 31 December 2012 2011 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Amortized Cost Unrealized Gains Unrealized Losses Fair Value Debt securities Government and agency mortgage-backed securities (residential and commercial) 4,026 291 (2) 4,315 5,095 300 (1) 5,394 Corporate mortgage-backed securities (residential and commercial) 10,778 1,202 (107) 11,873 10,868 863 (182) 11,549 Other asset-backed securities 2,532 276 (27) 2,781 2,393 196 (30) 2,559 Government and government agency bonds Germany 13,066 1,521 (5) 14,582 11,988 1,269 (3) 13,254 Italy 29,762 1,483 (206) 31,039 30,158 4 (3,263) 26,899 France 31,384 4,431 (34) 35,781 25,326 1,531 (45) 26,812 United States 8,489 851 (10) 9,330 7,202 704 (3) 7,903 Spain 2,582 32 (136) 2,478 5,097 46 (286) 4,857 Belgium 8,537 1,372 (1) 9,908 5,801 175 (25) 5,951 Greece 7 4 – 11 303 – – 303 Portugal 251 1 (11) 241 761 – (209) 552 Ireland 76 3 – 79 439 – (51) 388 Hungary 662 42 – 704 723 – (60) 663 All other countries 51,213 5,329 (52) 56,490 41,887 2,903 (155) 44,635 Subtotal 146,029 15,069 (455) 160,643 129,685 6,632 (4,100) 132,217 Corporate bonds 1 161,150 14,142 (954) 174,338 151,481 6,571 (4,298) 153,754 Other 2,574 266 (23) 2,817 2,045 190 (16) 2,219 Subtotal 327,089 31,246 (1,568) 356,767 301,567 14,752 (8,627) 307,692 Equity securities 2 17,950 8,632 (95) 26,487 18,746 7,623 (181) 26,188 Total 345,039 39,878 (1,663) 383,254 320,313 22,375 (8,808) 333,880 1 Includes bonds issued by Spanish banks with a fair value of € 508 MN (2011: € 1,115 MN), thereof subordinated bonds with a fair value of € 107 mn (2011: € 322 MN). 2 Includes shares invested in Spanish banks with a fair value of € 279 MN (2011: € 521 mn). Held-to-maturity investments Held-to-maturity investments D 037 € mn as of 31 December 2012 2011 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Amortized Cost Unrealized Gains Unrealized Losses Fair Value Government and government agency bonds 2,598 331 – 2,929 2,462 196 (31) 2,627 Corporate bonds 1 1,723 68 (1) 1,790 1,756 54 (17) 1,793 Other – – – – 2 – – 2 Total 4,321 399 (1) 4,719 4,220 250 (48) 4,422 1 Also includes corporate mortgage-backed securities. Annual Report 2012    Allianz Group 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 273

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