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Allianz Annual Report 2012

Fair value hierarchy 2012 D 120 € mn as of 31 December 2012 Level 1 Quoted prices in active markets Level 2 Valuation technique – market observable inputs Level 3 Valuation technique – non-market observable inputs Total fair value Financial assets Financial assets carried at fair value through income Financial assets held for trading Debt securities 102 226 – 328 Equity securities 69 84 – 153 Derivative financial instruments 36 1,670 159 1,865 Subtotal 207 1,980 159 2,346 Financial assets designated at fair value through income Debt securities 1,945 404 – 2,349 Equity securities 2,355 – 233 2,588 Subtotal 4,300 404 233 4,937 Subtotal 4,507 2,384 392 7,283 Available-for-sale investments Equity securities 19,933 1,291 5,263 26,487 Government and agency mortgage-backed securities (residential and commercial) 37 4,278 – 4,315 Corporate mortgage-backed securities (residential and commercial) 26 11,817 30 11,873 Other asset-backed securities 80 2,465 236 2,781 Government and government agency bonds 138,690 21,915 38 160,643 Corporate bonds 33,512 137,705 3,121 174,338 Other debt securities 1,390 960 467 2,817 Subtotal 193,668 180,431 9,155 383,254 Financial assets for unit-linked contracts 68,508 2,504 185 71,197 Derivative financial instruments and firm commitments included in other assets – 129 – 129 Assets held in trust 232 – 140 372 Total 266,915 185,448 9,872 462,235 Financial liabilities Financial liabilities held for trading Derivative financial instruments 58 756 4,581 5,395 Other trading liabilities – 2 – 2 Subtotal 58 758 4,581 5,397 Investment contracts with policyholders 1 656 247 427 1,330 Financial liabilities for unit-linked contracts 68,508 2,504 185 71,197 Derivative financial instruments and firm commitments included in other liabilities – 462 – 462 Financial liabilities for puttable equity instruments 2,495 26 80 2,601 Liabilities held in trust 232 – 140 372 Total 71,949 3,997 5,413 81,359 1 Excludes universal life-type contracts. The following tables present the fair value hierarchy for fi- nancial instruments carried at fair value in the consoli- dated balance sheets as of 31 December 2012 and 2011. 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 329

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