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Allianz Annual Report 2012

As of 31 December 2012, participating life business repre- sented approximately 56 % (2011: 57 %) of the ­Allianz Group’s gross insurance in force. During the year ended 31 Decem- ber 2012, participating policies represented approximately 65 % (2011: 64 %) of gross statutory premiums written and 63 % (2011: 63 %) of life premiums earned. As of 31 December 2012, reserves for conventional participating policies were approximately 48 % (2011: 48 %) of the ­Allianz Group’s con- solidated aggregate policy reserves. Changes in aggregate policy reserves for universal life-type insurance contracts and non-unit-linked investment con- tracts for the years ended 31 December 2012 and 2011 were as follows: Changes in aggregate policy reserves for universal life-type insurance contracts and non-unit-linked investment contracts D 084 € mn 2012 2011 Universal life-type insurance contracts Non-unit-linked investment contracts Universal life-type insurance contracts Non-unit-linked investment contracts As of 1 January 138,846 1,176 129,680 1,061 Foreign currency translation adjustments (573) 14 1,912 (16) Changes in the consolidated subsidiaries of the ­Allianz Group – – (513) – Premiums collected 16,869 598 16,933 575 Separation of embedded derivatives (314) (2) (307) – Interest credited 4,754 36 4,647 39 Releases upon death, surrender and withdrawal (14,351) (496) (13,379) (474) Policyholder charges (1,449) (15) (1,245) (16) Portfolio acquisitions and disposals (61) – (2) – Reclassifications 1 362 19 1,120 7 As of 31 December 144,083 1,330 138,846 1,176 1 The reclassifications mainly relate to insurance contracts when policyholders change their contract from a unit-linked to a universal life-type contract. Annual Report 2012    Allianz Group300

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