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Allianz Annual Report 2012

fair value hierarchy 2011 D 121 € mn as of 31 December 2011 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 150 85 3 238 Equity securities 37 98 – 135 Derivative financial instruments 83 1,867 146 2,096 Subtotal 270 2,050 149 2,469 Financial assets designated at fair value through income Debt securities 2,786 589 – 3,375 Equity securities 2,364 65 193 2,622 Subtotal 5,150 654 193 5,997 Subtotal 5,420 2,704 342 8,466 Available-for-sale investments Equity securities 20,955 1,083 4,150 26,188 Government and agency mortgage-backed securities (residential and commercial) 33 5,361 – 5,394 Corporate mortgage-backed securities (residential and commercial) 10 11,320 219 11,549 Other asset-backed securities 91 2,203 265 2,559 Government and government agency bonds 113,975 18,184 58 132,217 Corporate bonds 26,964 124,426 2,364 153,754 Other debt securities 784 986 449 2,219 Subtotal 162,812 163,563 7,505 333,880 Financial assets for unit-linked contracts 61,082 2,235 183 63,500 Derivative financial instruments and firm commitments included in other assets – 430 – 430 Assets held in trust 241 – 25 266 Total 229,555 168,932 8,055 406,542 Financial liabilities Financial liabilities held for trading Derivative financial instruments 47 1,885 4,676 6,608 Other trading liabilities – 2 – 2 Subtotal 47 1,887 4,676 6,610 Investment contracts with policyholders 1 490 268 418 1,176 Financial liabilities for unit-linked contracts 61,082 2,235 183 63,500 Derivative financial instruments and firm commitments included in other liabilities – 237 – 237 Financial liabilities for puttable equity instruments 2,799 33 49 2,881 Liabilities held in trust 241 – 25 266 Total 64,659 4,660 5,351 74,670 1  Excludes universal life-type contracts. Annual Report 2012    Allianz Group330

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