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Allianz Annual Report 2012

Intangible assets with finite useful lives Amortization expenses of intangible assets with finite use- ful lives are estimated to be € 131 mn in 2013,€ 130 mn in 2014, € 126 mn in 2015, € 120 mn in 2016 and € 120 mn in 2017. There- of, the amortization expenses relating to the intangible as- sets of Selecta AG are included in the line item “Expenses from fully consolidated private equity investments”. The long-term distribution agreements with Commerz- bank AG have useful lives of 13.5 years and 15 years, which were determined by contractual agreements. They are am- ortized on a straight-line basis over the remaining useful life of 11 years. The long-term distribution agreements were impaired by € 84 mn in the fourth quarter 2012 as a re- sult of adjusted estimated distribution volumes. The long- term distribution agreements with Banco Popular S.A. have useful lives of 25 years, which were determined by contrac- tual agreements. They are amortized on a straight-line ba- sis over the remaining useful lives of 23.75 years. The customer relationships of cominvest and Selecta have useful lives of 4 years and 10 years, which were determined by average customer retention period for German mutual funds and by the multi-period excess earnings method. The customer relationships of cominvest were fully amor- tized by the end of 2012. The customer relationships of Se- lecta are amortized on a straight-line basis over the re- maining useful lives of 4.5 years. 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 287

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