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Allianz Annual Report 2012

Reconciliation of level 3 financial ASSETS € mn Carrying value (fair value) as of 1 January 2012 Additions through purchases and issues Net transfers into (out of) Level 3 Disposals through sales and settlements Financial assets Financial assets carried at fair value through income Financial assets held for trading Debt securities 3 2 – (4) Derivative financial instruments 146 69 10 (502) Subtotal 149 71 10 (506) Financial assets designated at fair value through income Equity securities 193 64 – (12) Subtotal 193 64 – (12) Available-for-sale investments Equity securities 4,150 1,732 7 (1,036) Corporate mortgage-backed securities (residential and commercial) 219 – (190) (5) Other asset-backed securities 265 52 2 (145) Government and government agency bonds 58 13 (1) (34) Corporate bonds 2,364 731 – (89) Other debt securities 449 13 – (1) Subtotal 7,505 2,541 (182) (1,310) Financial assets for unit-linked contracts 183 9 3 (13) Assets held in trust 25 91 35 (8) Total financial assets at fair value 8,055 2,776 (134) (1,849) Reconciliation of level 3 financial Liabilities € mn Carrying value (fair value) as of 1 January 2012 Additions through purchases and issues Net transfers into (out of) Level 3 Disposals through sales and settlements Financial liabilities Financial liabilities held for trading Derivative financial instruments 4,676 893 – (1,076) Investment contracts with policyholders 1 418 261 – (278) Financial liabilities for unit-linked contracts 183 9 3 (13) Financial liabilities for puttable equity instruments 49 – – – Liabilities held in trust 25 91 35 (8) Total financial liabilities at fair value 5,351 1,254 38 (1,375) 1 Excludes universal life-type contracts. Reconciliation of Level 3 financial instruments The following tables show a reconciliation of the financial instruments carried at fair value and classified as Level 3: Annual Report 2012    Allianz Group332

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